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Motilal Oswal Motilal Oswal MOSt Focused Midcap 30

Motilal Oswal MOSt Focused Multicap 35 Motilal Oswal MOSt Focused Long Term

Motilal Oswal MOSt Focused Dynamic Equity

MOSt Focused 25 FundFundFund

FundFund

ANNUAL REPORT 2016-17

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Trustees’ Report for the financial year ended March 31, 2017

Motilal Oswal Asset Management Company LimitedRegistered & Corporate Office: 10th Floor, Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai - 400025

Tel: 022 3980 4263 l Toll free No.: 18002006626 l Fax: 022 3089 6844 l CIN No.: U67120MH2008PLC188186 E-mail: [email protected] l Website: www.motilaloswalmf.com and www.mostshares.com.

Dear Unitholders,We have pleasure in presenting the seventh annual report together with the audited financial statements of the Schemes of Motilal Oswal Mutual Fund for the year ended March 31, 2017.

BRIEF BACKGROUND OF TRUST, SPONSOR, TRUSTEE COMPANY AND ASSET MANAGEMENT COMPANY

CONSTITUTIONMotilal Oswal Mutual Fund (“the Fund or MOMF”), sponsored by Motilal Oswal Securities Ltd. (“the Sponsor”) was set up as a Trust under the Indian Trust Act, 1882 and is duly registered under the Indian Registration Act, 1908. The Fund has been registered with Securities and Exchange Board of India (“SEBI”) vide registration number MF/063/09/04 dated December 29, 2009. The Sponsor is the Settlor of the Mutual Fund Trust. The Settlor has entrusted a sum of Rs. 1,00,000/- to the Trustee Company as its initial contribution towards the corpus of the Mutual Fund. Motilal Oswal Trustee Company Ltd. (“the Trustee”) is the sole Trustee of the Fund. In accordance with Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, Motilal Oswal Asset Management Company Ltd. (MOAMC) has been appointed as Asset Management Company (“the Investment Manager or AMC”) to the Fund pursuant to Investment Management Agreement (IMA) dated May 21, 2009.SPONSORMotilal Oswal Securities Limited (“MOSL”) was incorporated under the Companies Act, 1956. It is subsidiary of Motilal Oswal Financial Services Limited, which is listed on National Stock Exchange and Bombay Stock Exchange. MOSL is engaged in the business of stock broking and depository services. MOSL is a member of Bombay Stock Exchange, National Stock Exchange and is a Depository Participant with National Securities Depository Limited and Central Depository Services (India) Limited.THE TRUSTEEMotilal Oswal Trustee Company Limited (MOTC) is a company incorporated under the Companies Act, 1956 on November 14, 2008 and is having its registered office at 10th Floor, Motilal Oswal Tower, Rahimtullah Sayani Road, Opp. Parel ST Depot, Prabhadevi, Mumbai - 400025. The Trustee ensures that Motilal Oswal Mutual Fund and the schemes floated there under are managed by the AMC in accordance with the Trust Deed, the regulations, directions and guidelines issued by SEBI, the stock exchanges and other regulatory agencies, from time to time.ASSET MANAGEMENT COMPANYMotilal Oswal Asset Management Company Ltd. (MOAMC) is a company incorporated under the Companies Act, 1956 on November 14, 2008 and is having its registered Office at 10th Floor, Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai - 400025. MOAMC has been appointed as the Investment Manager to Motilal Oswal Mutual Fund by the Trustee in term of Investment Management Agreement (IMA) dated May 21, 2009, executed between the Trustee and MOAMC.INVESTMENT OBJECTIVE, PERFORMANCE REVIEW AND OPERATION OF THE SCHEMESPerformance of the SchemesAs on March 31, 2017, the Performance of the Schemes, Net Asset under Management and number of folios held in respective Scheme is summarized below:

Sr. No.

Scheme Name Benchmark Inception Date Last one Year Performance

Since Inception Performance

Net Assets under

Management (in Crores)

Number of folios

Scheme (%)

Benchmark (%)

Scheme (%)

Benchmark (%)

1. MOSt Shares M50 Nifty 50 Index July 28, 2010 18.49 18.55 7.43 8.26 21.21 3,608

2. MOSt Shares Midcap 100 Nifty Free Float Midcap 100 Index January 31, 2011 34.06 34.85 14.11 13.39 27.31 3,724

3. MOSt Shares NASDAQ 100 NASDAQ-100* March 29, 2011 17.94 18.45 22.49 22.70 74.59 3,295

4. MOSt Focused 25 Nifty 50 Index May 13, 2013 27.48 18.55 17.35 11.64 571.06 28,889

5. MOSt Ultra Short Term Bond Fund

CRISIL Short Term Bond Fund Index September 6, 2013 6.17 9.10 6.92 9.58 606.82 9,949

6. MOSt Focused Midcap 30 Nifty Free FloatMidcap 100 Index February 24, 2014 27.07 34.85 33.08 29.65 1,333.99 52,327

7. MOSt Focused Multicap 35 Nifty 500 Index April 28, 2014 37.20 23.91 32.48 14.93 6,798.22 193,585

8. MOSt Focused Long Term Nifty 500 Index January 21, 2015 39.46 23.91 19.54 5.57 491.95 55,901

9. MOSt Focused Dynamic Equity

CRISIL Balanced Fund - Aggressive Index September 27, 2016 - - 7.50 4.73 770.67 36,971

Note: Return for one year are absolute and more than one year are compounded annualized.Past performance may or may not be sustained in future.*NASDAQ -100 Index Returns in INR are based on Reuter’s rate.1. Motilal Oswal MOSt Shares M50 ETF (MOSt Shares M50) MOSt Shares M50 is an open ended Exchange Traded Fund that invests in securities in the same proportion of the underlying Nifty 50 Index. The investment

objective of the Scheme is to seek investment return that corresponds (before fees and expenses) generally to the performance of the Nifty 50 Index (Underlying Index), subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The Scheme was launched on July 28, 2010 and is listed on the National Stock Exchange of India Ltd. since July 30, 2010.

The performance of MOSt Shares M50 continues to be in line with Nifty 50 Index with low tracking error. Our strategy for MOSt Shares M50 continues to be to target a low expense ratio to maintain low tracking error to retain its attractiveness to the investors seeking to have low cost access to large cap domestic exposure.

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2. Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares Midcap 100) MOSt Shares Midcap 100 is an open ended Index Exchange Traded Fund

that tracks the Nifty Free Float Midcap 100 Index. MOSt Shares Midcap 100 is India’s first Midcap ETF based on Nifty Free Float Midcap 100 Index. The investment objective of the Scheme is to seek investment return that corresponds (before fees and expenses) to the performance of Nifty Free Float Midcap 100 Index (Underlying Index), subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The Scheme was launched on January 31, 2011 and is listed on the National Stock Exchange of India Ltd. since February 4, 2011.

The Scheme continues to capture the positive movement in the midcap space. The tracking error of the scheme continues to be low. The Index should continue to capture the India growth story with the ongoing timely inclusion of niche market leading companies in the Index. We will continue with the existing strategy of driving down the delivered cost of the ETF.

3. Motilal Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100)

MOSt Shares NASDAQ 100 is an open ended Index Exchange Traded Fund that tracks the NASDAQ-100 Index. MOSt Shares NASDAQ 100 is India’s first US Equities based ETF tracking the NASDAQ-100 Index. The investment objective of the Scheme is to seek investment return that corresponds (before fees and expenses) generally to the performance of the NASDAQ-100 Index, subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. MOSt Shares NASDAQ 100 is listed on the National Stock Exchange of India Ltd. and Bombay Stock Exchange Ltd. since March 31, 2011.

MOSt Shares NASDAQ 100 continues to perform well. This is on account of the NASDAQ-100 Index comprising names such as Apple, Microsoft, Alphabet (Google), Intel, and Facebook—the index also includes category-defining companies on the forefront of innovation in other key industries such as Amgen, Starbucks, and Tesla. Apple is the largest constituent of the NASDAQ-100 Index. Given the global leadership positions of these companies, it is expected that these companies will remain in the NASDAQ-100 Index over the long term.

4. Motilal Oswal MOSt Focused 25 Fund (MOSt Focused 25) MOSt Focused 25 is an open ended equity scheme. The investment objective

of the Scheme is to achieve long term capital appreciation by investing in upto 25 companies with long term sustainable competitive advantage and growth potential. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The Scheme was launched on May 13, 2013.

MOSt Focused 25 comprises pre-dominantly of large cap portfolio with over 85 percent of the fund invested in top 100 listed companies by market capitalization. In line with MOAMC’s investment philosophy, the Fund seeks to ‘buy and hold’ high quality established growth stocks selected on the basis of their dominance in respective lines of businesses. The Scheme has significantly outperformed the benchmark by 8.93% in FY 2016-2017 while also outperforming it by 5.71% annualized since inception. As of March 2017, the portfolio comprised 18 stocks with sectors such as BFSI, consumer discretionary and oil and gas companies forming nearly 70 percent of the exposure. HDFC Bank (9.7%), Kotak Mahindra Bank Limited (9.13%) and Max Financial Services Limited (8.97%) are the top 3 holdings of the Fund. The Fund would endeavour to maintain a high-conviction, low-churn portfolio with a strong focus on buying well-developed evolved but growth-oriented businesses in the future as well.

5. Motilal Oswal MOSt Ultra Short Term Bond Fund (MOSt Ultra Short Term Bond Fund)

MOSt Ultra Short Term Bond Fund is an open ended debt scheme. The investment objective of the Scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The Scheme was launched on September 13, 2013.

During the period under review the Scheme had underperformed. It is because the components of the benchmark comprises of various other indices which invest into G-Secs, Bonds, NCDs & other debt instruments. However, our Scheme invests only in Commercial Deposits and Commercial Papers and hence the deviation is reflected in performance of the Scheme. The Fund invests to generate returns by investing into lower credit risk instruments. As a result, the Fund invests in CBLO, CDs, AAA & AA rated CPs, having Moderate to low credit risk. The performance of the Fund has been in line with expected performance of the money markets for the given risk constrain.

6. Motilal Oswal MOSt Focused Midcap 30 Fund (MOSt Focused Midcap 30)

MOSt Focused Midcap 30 is an open ended equity scheme. The investment objective of the Scheme is to achieve long term capital appreciation by investing

in a maximum of 30 quality mid-cap companies having long-term competitive advantages and potential for growth. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The Scheme was launched on February 24, 2014.

MOSt Focused Midcap 30 is a pure midcap fund of MOAMC. It is basically mandated to invest in companies beyond the 100th company by market capitalization but above a minimum market cap of Rs. 600 cr. It thus seeks to buy mid-size enterprises that have achieved a certain inflection point in their business life-cycle and are on the cusp of significantly higher growth rates going forward. The Fund seeks to look at unique competitive advantages/business positioning in its investee companies. The Fund conforms to the ‘Buy Right, Sit Tight’ investment philosophy of MOAMC and practices low-churn. The Scheme has underperformed the benchmark by 7.78% in FY2017, while it has outperformed by 3.43% since inception. The reason for underperformance is due to restriction in the current universe of the Asset Allocation of the Scheme and because of underperformance in few of the stocks held in the portfolio during the period under review. As of March 2017, the Fund portfolio comprised 21 stocks with BFSI, consumer discretionary, healthcare and technology constituting 50% of the exposure. Ratnakar Bank Limited (11.38%), Max Financial Services Limited (9.06%) and Ramco Cements Ltd. (6.43%) being its top 3 holdings. The Fund should continue to pursue the objective of buying emerging mid-sized entities that it believes will evolve into being large cap enterprises of the future.

7. Motilal Oswal MOSt Focused Multicap 35 Fund (MOSt Focused Multicap 35)

MOSt Focused Multicap 35 is an open ended diversified equity scheme. The investment objective of the Scheme is to achieve long term capital appreciation by primarily investing in a maximum of 35 equity & equity related instruments across sectors and market-capitalization levels. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The Scheme was launched on April 28, 2014.

MOSt Focused Multicap 35 follows a multi-cap strategy and has the freedom to invest across the market cap spectrum. The Fund has the flexibility to vary its exposure between large-caps and mid-caps as deemed fit by the manager based on risk-return expectations over the medium-term. The Fund also has added feature of being able to invest upto 10% of the Fund in foreign securities, thus allowing it to take advantage of international growth opportunities as well. The Fund practices a “Buy and Hold” approach with a high-conviction 22 stock portfolio. The fund has consistently been a top performer within its peer group since inception. The Scheme has outperformed the benchmark since inception by 17.55% and in FY 2016-2017 by 11.97%. As of March 2017, the fund has the highest exposure in sectors like Banking and Finance, Healthcare, automobiles and Petroleum Products. HDFC Bank Ltd. (9%), IndusInd Bank Ltd. (9%) and Eicher motors Ltd. (6.6%) are its top 3 holdings. Going forward, MOSt Focused Multicap 35 will look to derive maximum growth leverage out of a combination of mid-size and large-cap companies for the portfolio in addition to seeking a few interesting global investment opportunities as well.

8. Motilal Oswal MOSt Focused Long Term Fund (MOSt Focused Long Term) MOSt Focused Long Term is an open ended equity linked saving Scheme

with a 3 year lock-in, to effectively reduce the tax liability under Section 80C of Income Tax Act, 1961. The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The Scheme was launched on January 21, 2015.

MOSt Focused Long Term provides an effective multi-cap portfolio comprising high-quality, high-growth companies that have the potential to generate significant returns over investment tenure of 3-4 years besides enabling tax-savings for investors of the Fund. The Scheme has outperformed the benchmark since inception by 13.97% in FY 2016-2017 by 16.59%. The fund has consistently been the top performer within its peer group and within the overall multicap schemes category since inception and on rolling 1 & 2 year basis. Fund pursues a “Buy and Hold” philosophy on a high-conviction portfolio comprising 22 stocks as of Mar 31, 2017. HDFC Bank Ltd. (7.5%), IndusInd Bank Ltd. (7.5%) and Can Fin Homes Ltd. (6.8%) are its top 3 holdings.

9. Motilal Oswal MOSt Focused Dynamic Equity Fund (MOSt Focused Dynamic Equity)

MOSt Focused Dynamic Equity is an open ended equity scheme. The investment objective of the Scheme is to generate long term capital appreciation by investing in equity and equity related instruments including equity derivatives as well as debt instruments. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The Scheme was launched on September 27, 2016.

MOSt Focused Dynamic Equity provides a fair mix of Equity and Debt. The Net Allocation to Equity is determined by our proprietary MOVI Index, the level of which determines Net Equity Exposure. For example MOVI between 100


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and 110 suggests Equity exposure of 55%, whereas MOVI between 110 and 120 suggest Equity Exposure of 40%. The Equity component is an effective multi-cap portfolio comprising high-quality, high-growth companies that have the potential to generate significant returns over investment tenure of 3-4 years. The Scheme has outperformed the benchmark since inception. Fund pursues a “Buy and Hold” philosophy on a high-conviction portfolio comprising 24 stocks as of Mar 31, 2017. HDFC Bank Ltd. (5.8%), IndusInd Bank Ltd. (5.4%) and Maruti Suzuki India Limited (4.5%) are its top 3 holdings.

FUTURE OUTLOOK OF THE FUNDThe Indian economy continues to steadily build on its recovery that started to take shape since the establishment of the new government. Macro-economic parameters such as benign commodity prices, low inflation and declining interest rates are largely intact, though commodity prices having come off extremely depressed levels of 2015. Meanwhile, improvement in corporate earnings and expectation of an above average rainfall has raised the spirits of the market. After several quarters, corporate earnings in 4QFY17 have managed healthy double-digit growth and looks like a trend that would continue into FY17. Benefits of other structural reforms such as GST, financial inclusion, continued increase in govt spending towards the rural economy, DBT and Aadhar supports a possible improvement in the economy over the next 2-3 years. We reckon that the Indian economy after a very long time will likely enter a phase wherein both, the urban and rural parts of the economy will likely display strong growth simultaneously. A favorable monsoon will further bolster the demand outlook and strengthen the proposition for overall GDP to accelerate its pace compared to the past few years. Besides, implementation of fresh reforms such as the closure of GST and the strong drive to address the NPA situation of the banking sector will lay an important foundation for growth beyond 2017.While the above will likely provide a good backdrop for equity markets in general, MOAMC remains focused on its stated approach of long-term investing based on its QGLP investment philosophy. Seeking returns by buying exceptionally good quality growth businesses through a bottom up stock selection process for an investment horizon of atleast 3-5 years will in our view be the best way to deliver sustained outperformance.Based on our internal estimates, we reckon that at an aggregate level the investment holdings across our different fund portfolios have the ability to grow earnings significantly ahead of the market, which in turn will drive the Funds to outperform their respective broader market benchmarks.SIGNIFICANT ACCOUNTING POLICIESThe significant accounting policies form part of the notes to the accounts annexed to the Balance Sheet of the Schemes in the Annual Report. The Accounting Policies are in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.UNCLAIMED DIVIDENDS & REDEMPTIONSFollowing is the summary of number of Investors and corresponding amount as on March 31, 2017:Scheme Unclaimed

DividendsUnclaimed

RedemptionsAmount

(Rs.)No. of

InvestorsAmount

(Rs.)No. of

InvestorsMotilal Oswal MOSt Focused 25 Fund 70,488.03 28 31,821.56 1

Motilal Oswal MOSt Focused Midcap 30 Fund 138,134.51 13 51,808 1

Motilal Oswal MOSt Focused Multicap 35 Fund - - 35,652.69 2

Motilal Oswal MOSt Focused Long Term Fund 322,226.36 104 - -

Motilal Oswal MOSt Focused Dynamic Equity Fund - - 3000 1

REDRESSAL OF INVESTOR COMPLAINTSThe details of investor complaints received by the Fund during the financial year

2016-2017 are given in the Annexure I.VOTING POLICYIn compliance with the SEBI Circular no. SEBI/IMD/CIR No. 18/198647/2010 dated March 15, 2010, clarificatory email received from SEBI on June 23, 2011 and SEBI circular no. CIR/IMD/DF/05/2014 dated March 24, 2014, MOAMC has implemented Voting Policy and Procedures for exercising their voting rights in respect of the securities held by the Schemes of the Fund. The Voting Policy is enclosed as an Annexure II.Pursuant to SEBI Circular no. CIR/IMD/DF/05/2014 dated March 24, 2014, MOAMC has obtained a certification from M/s. N. M. Raiji & Co., Chartered Accountants on the voting rights exercised during the FY 2016-2017. The Auditor’s Certificate is enclosed as an Annexure III.During the FY 2016 - 2017, MOAMC has exercised their voting rights on behalf of the Fund in respect of the securities held by the Schemes of the Fund. The voting details for the FY 2016-2017 in the SEBI prescribed format is enclosed as an Annexure IV.Unitholders can also log on to the websites www.motilaloswalmf.com and www.mostshares.com to view the Voting Policy, Voting details and Auditor’s certificate with respect to voting rights exercised by MOAMC.STATUTORY INFORMATIONThe Sponsor is not responsible or liable for any loss or shortfall resulting from the operation of the Schemes beyond the initial contribution of Rs. 1,00,000/- made by it towards setting up of Motilal Oswal Mutual Fund.The price and redemption value of the units and income from them can go up as well as down with the fluctuations in the market value of its underlying investments.The Annual Report shall be disclosed on the website (www.motilaloswalmf.com and www.mostshares.com) and shall be available for inspection at the Head Office of the Fund. On written request, present and prospective unitholder/investors can obtain a copy of the Trust Deed and the Annual Report of the Schemes. Unitholders, if they so desire, may on written request, obtain a copy of the Annual Report of MOAMC.ACKNOWLEDGEMENTSThe Trustees wish to thank the Unitholders of the Schemes for their continued investment in the Schemes and also thank the Government of India, the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI) and the Association of Mutual Funds in India (AMFI) for the guidance provided by them. The Trustee also records and appreciates the satisfactory services provided by the Registrar and Transfer Agent, Fund Accountant, Custodian, Bankers, Distributors and Brokers during the year. The guidance and services provided by the Auditors and legal advisors as well as sincerity and dedication of the employees of MOAMC is also appreciated.

For and on behalf of the Board of DirectorsMotilal Oswal Trustee Company Limited(Trustee to Motilal Oswal Mutual Fund)

Sd/-Motilal OswalChairman

Place: MumbaiDate: July 6, 2017


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ANNExURE I

Redressal of Complaints received during 2016-2017Name of the Mutual Fund Motilal Oswal Mutual FundTotal Number of Folios 341,279

Complaint code Type of complaint#

(a) No. of complaints

pending at the

beginning of the year

Action on (a) and (b)

(b) No of complaints

received during the

year

Resolved

Non Actionable*

Pending

Within 30 days

30-60 days

60-180 days

Beyond 180 days

0-3 months

3-6 months

6-9 months

9-12 months

I A Non receipt of Dividend on Units 0 0 0 0 0 0 0 0 0 0 0

I B Interest on delayed payment of Dividend 0 0 0 0 0 0 0 0 0 0 0

I C Non receipt of Redemption Proceeds 0 1 1 0 0 0 0 0 0 0 0

I D Interest on delayed payment of Redemption 0 0 0 0 0 0 0 0 0 0 0

II A Non receipt of Statement of Account/Unit Certificate 0 0 0 0 0 0 0 0 0 0 0

II B Discrepancy in Statement of Account 0 1 1 0 0 0 0 0 0 0 0

II C Data corrections in Investor details 0 2 1 0 1 0 0 1 0 0 0

II D Non receipt of Annual Report/Abridged Summary 0 0 0 0 0 0 0 0 0 0 0

III A Wrong switch between Schemes 0 0 0 0 0 0 0 0 0 0 0

III B Unauthorized switch between Schemes 0 0 0 0 0 0 0 0 0 0 0

III C Deviation from Scheme attributes 0 0 0 0 0 0 0 0 0 0 0

III D Wrong or excess charges/load 0 0 0 0 0 0 0 0 0 0 0III E Non updation of changes viz.

address, PAN, bank details, nomination, etc

0 0 0 0 0 0 0 0 0 0 0

IV Others ** 0 12 6 5 1 0 2 1 0 0 0# including against its authorized persons/distributors/ employees. etc.*Non actionable means the complaint that are incomplete / outside the scope of the mutual fund** If others include a type of complaint which is more than 10% of overall complaint, provide that reason separatelyExample : Complaint number from I A to III E is 1000 and Others alone is 500 and transmission linked complaints (within others) are 200 then provide Transmission as separate reason (V) along with all other parameters


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ANNExURE IIVOTING POLICY

INTRODUCTIONMotilal Oswal Asset Management Company Limited (hereinafter referred to as “MOAMC”) is a company incorporated under the Companies Act, 1956. MOAMC is an Investment Manager for the schemes of Motilal Oswal Mutual Fund. Motilal Oswal Mutual Fund (hereinafter referred to as “Mutual Fund”) is registered with Securities Exchange & Board of India under the SEBI (Mutual Funds) Regulations, 1996 having registration no. MF/063/09/04. Mutual Fund invests in an equity component and/or equity shares of the companies/ corporations registered in India (hereinafter referred to as “Investee Company”). In connection with such investments by the Mutual Fund, MOAMC has a fiduciary responsibility to exercise voting responsibilities at the general meetings of Investee Companies through the corporate proxy voting process available to the members of such Investee Companies in the best interest of the unit holders of the Mutual Fund. In order to ensure that an active role is played in better Corporate Governance of the Listed Companies where investment of Mutual Fund Schemes is made, we have framed this Voting Policy in compliance with SEBI Circular no. SEBI/IMD/CIR No. 18/198647/2010 dated March 15, 2010 and clarificatory email received from SEBI on June 23, 2011 and SEBI circulation no. CIR/IMD/DF/05/2014 dated March 24, 2014. This Policy shall be applicable to all equity holdings across all our equity mutual fund schemes.Objective of Voting PolicyBroadly, the objectives of this Policy are as follows:• To outline the role and obligations of Mutual Fund in ensuring better corporate governance of listed companies in which the funds of Schemes of Mutual Fund are

invested.• To exercise voting responsibilities at the general meetings of Investee Companies in the best interest of the unit holders of the Mutual Fund.• To explain reporting and disclosure requirements with regards to proxy voting.The principles and positions reflected in this policy are designed to guide us in exercising our votes with respect to the shares and not necessarily in making investment decisions. The Fund Managers of each of the schemes of the Mutual Fund base their determinations of whether their respective schemes should invest in the shares of particular company on a variety of factors at all times keeping paramount the best interests of the unit holders of such scheme, and while corporate governance may be one such factor, it may not be the most important consideration.Policy GuidelinesMOAMC shall adhere to the following guidelines:• This Policy will be effective for all listed companies, wherein equity schemes of Mutual Fund have invested.• MOAMC for and on behalf of the Mutual Fund shall endeavor to vote on all ordinary/special resolutions which may affect the unit holders interests, either by postal

ballot or through personal attendance by any of the authorized officials / agents.• MOAMC may authorize any of its officials, Head-Operations, concerned Fund Manager, Compliance Officer, or any other Officers of the rank of Manager and

above, who is authorised from Corporate Office/Branch Offices and / or authorised agents to attend the meeting in person and to vote as approved internally.• MOAMC shall not give proxy to brokers, for voting on its behalf.• The decision regarding the voting on the resolution, i.e. whether the Mutual Fund will abstain from voting or vote for or against the proposed resolution by the

Investee Company/Issuer will be taken by the Fund Manager in conjunction with the recommendations of the / broad parameters approved by the Investment Committee.

The actual exercise of the proxy votes in the AGMs/EGMs of the Investee Company will cover the following matters and will be reported in the SEBI prescribed format:A. Ordinary Resolutions :

a. Adopting the Annual Accounts (P&L & Balance Sheet)b. Declaration of Annual or Interim or Final or Special Dividendc. Appointment or removal or retirement of Directorsd. Appointment or Re-appointment of Auditors

B. Special Resolutions Corporate governance issues are diverse and continually evolving. While it is difficult to provide an exhaustive list of such issues, the following guidelines/policies

reflect what MOAMC believes to be good corporate governance measures and the stance it may generally take with respect to the below matters:i. Corporate Governance Matters MOAMC supports resolutions like change in registered office of the Company from one State to another State, merger and other corporate restructuring,

which are in the interest of the unit holders of the Fund. MOAMC will analyze various economic and strategic factors in making the final decision on a merger, acquisition or any other corporate restructuring proposals. However, MOAMC will vote against resolutions pertaining to takeover by an acquirer, etc. which are against the interest of the unit holders. MOAMC will consider, on a case to case basis, proposals to rotate auditors, and will vote against the appointment of auditors when there is convincing evidence of accounting irregularities or negligence.

ii. Changes to Capital Structure Changes in capitalization will generally be supported where a reasonable need for the change is demonstrated. MOAMC will review on a case to case basis,

proposals by companies to change the capital structure by increasing/decreasing the authorized shares and the purpose for the same. MOAMC believes that a company’s decisions pertaining to financing has a material impact on its shareholders, in particular when they involve the issuance of additional shares or the assumption of additional debt. However such changes resulting in excessive dilution of existing shareholder value will not be supported.

iii. Stock option plans and other proposals pertaining to management compensation MOAMC would support such remuneration proposals, which are tied to achieving long-term performance and enhancing shareholder value. Stock option plans

that are excessively generous or dilute other shareholders’ stake value will not be supported.iv. Social and corporate responsibility issues In light of the increasing need for fair disclosures, a growing need for social and corporate responsibility, MOAMC’s responsibility increases. MOAMC shall

vote in favor of such matters which are believed to have significant socio-economic benefits.v. Board of Directors MOAMC believes in philosophy of having an independent board of directors as the same is key to comply with good corporate governance norms. MOAMC

would support proposals pertaining to appointment of independent directors, and the key committees such as audit, IPO, CSR and remuneration committees etc. to be comprised of independent members.

vi. Related-party transactions In view of the increasing number of incidences of related-party transactions being seen in the corporate sector today which can have large-scale implications

on the future of the underlying business of the Investee company and its valuation, MOAMC will ensure its active participation in voting on such transactions to safeguard the interest of its unit holders.

vii. Any other issue that may affect the interest of the shareholders in general and interest of the Unit holder in particular.C. Investment in group companies of MOAMC and investment in companies that have subscribed to the units of schemes of Mutual Fund: In cases where investments are in group companies of the MOAMC or where the Investee Companies have substantial investments in the schemes of the Motilal

Oswal Mutual Fund, MOAMC shall specifically review all voting proposals and take decisions with respect to voting on such proposals in the best interest of the unit holders. MOAMC may decide to abstain from such voting, if it deems fit to do so in the best interest of the unit holders or if there is a conflict of interest.


6

Exception to the aboveMOAMC may also decide to abstain from voting in cases of any of the above stated Special resolutions, where it has insufficient information or there is a conflict of interest or MOAMC does not receive the communication in time.Although MOAMC will vote in accordance with the Voting Policy, but it may act differently if, the relevant facts and circumstances so warrant. Hence, MOAMC may deviate from the Voting Policy guidelines when it determines that the deviation is necessary to protect the interests of the unit holders.Guidelines for Schemes which are Exchange Traded Funds and Index FundsIn relation to its Schemes that are exchange traded funds (ETFs) or index funds which are based on various indices or the price of physical gold, as the case may be, Mutual Fund invests in such ETFs / index based funds based on the index which is being tracked by such Scheme. These indices are developed, owned and maintained by independent index providers. The indices are maintained on a day to day basis by the index provider as per the policy laid down by the index provider and various parameters are used for inclusion and exclusion of stocks from the index. Mutual Fund obtains a license for using these indices to launch its ETFs. These Schemes then track such indices by investing in the stocks based on its weightage in such index. Mutual Fund carries rebalancing exercises based on the details of corporate actions, etc. and other relevant details received from the index providers. The Fund Manager of such ETF/Index Schemes do not play an active role in the selection the stocks for investment/disinvestment. The Fund Manager’s decisions are based solely on the notice of corporate actions received from the index providers. As Mutual Fund follows a passive philosophy towards investment in its Schemes that are ETF or index funds Mutual Fund would abstain from voting on any matters with respect to companies in which such Schemes that are ETFs / index funds have investments.Amendments/Updates, Internal Review and controlAny regulatory amendment/update etc. shall be carried out from time to time to the policy by Investment Committee. The Investment Committee will review the proxy voting required as per the voting policy and actual exercise of proxy votes.Disclosure of Voting Policy and Records thereofThe Voting Policy shall be available on the Websites of the Mutual Fund, www.motilaloswalmf.com and www.mostshares.com.a. MOAMC shall record and disclose specific rationale supporting to voting decision (for, against or abstain) with respect to each vote proposal stated above under

the head, Special Resolution.b. MOAMC shall additionally publish summary of the votes cast across all its investee company and its break-up in terms of total number of votes cast in favour or

against or abstained from.c. MOAMC shall make disclosure of votes cast on its website (in spreadsheet format) on a quarterly basis, within 10 working days from the end of the quarter in the

format as prescribed by SEBI vide circular no. CIR/IMD/DF/05/2014 dated March 24, 2014.d. Further, on an annual basis, MOAMC shall obtain Auditor’s certification on the voting reports and this auditor’s certification shall be submitted to trustees and shall

be disclosed in the relevant portion of the Mutual Funds’ annual report & Websites of Mutual Fund.

ANNExURE A(i) Revised format for disclosure of vote cast by Mutual Funds - during an individual quarter

Details of Votes cast during the quarter ended __, of the Financial year __-__Meeting

DateCompany

NameType of meetings

(AGM/EGM)Proposal by Management

or ShareholderProposal’s description

Investee company’s Management Recommendation

Vote (For/ Against/ Abstain)

Reason supporting the vote decision

(ii) Format for disclosure of voting by Mutual Funds/AMCs during a financial yearDetails of Votes cast during the Financial year __-__

Quarter Meeting Date

Company Name

Type of meetings (AGM/EGM)

Proposal by Management or Shareholder

Proposal’s description

Investee company’s Management Recommendation

Vote (For/ Against/ Abstain)


(iii) Format of providing the summary of proxy votes cast by Mutual Funds/AMCs across all the investee companiesSummary of Votes cast during the F.Y. ___-___

F.Y. Quarter Total no. of resolutions Break-up of Vote decision For Against Abstained

ANNExURE IIICERTIFICATE ON VOTING DISCLOSURES MADE BY MOTILAL OSWAL ASSET MANAGEMENT COMPANY LIMITED FOR THE FINANCIAL YEAR 2016-17

We have been requested by Motilal Oswal Asset Management Company Limited to review the voting reports disclosed by them.In terms of SEBI Circular No. SEBI/IMD/CIR No. 18 /198647/2010 dated March 15, 2010, read with circular no. CIR/IMD/DF/05/2014 dated March 24, 2014, we hereby certify that Motilal Oswal Mutual Fund has framed a voting policy for exercising voting rights in respect of securities held by its schemes.We have accordingly reviewed the following voting disclosures with respect to SEBI circular no. CIR/IMD/DF/05/2014 dated March 24, 2014:a. Summary of the votes cast across all investee companies and its break-up in terms of total number of votes cast in favor, against or abstained from, on an annual basis.b. Disclosure on the website of the reports on votes cast during each quarter, within 10 working days from the end of the quarter & on an annual basis with specific

rationale details supporting the voting decision (for, against or abstain) with respect to each vote proposal.We hereby certify that the voting disclosures made by Motilal Oswal Asset Management Company Limited for the Financial Year 2016-17 are in conformity with the SEBI prescribed format and guidelines and are in accordance with the voting policy of Motilal Oswal Mutual Fund.This certificate has been issued to Motilal Oswal Asset Management Company Limited for submitting the same to the Trustees and to disclose the same in the relevant section of Motilal Oswal Mutual Fund’s Annual Report and website.For N.M. Raiji & Co.Chartered AccountantsFirm Regn. No.108296WSd/-(Vinay D. Balse)PartnerMembership No.:39434Date: April 21, 2017Place: Mumbai


7

ANNExURE IVDetails of Votes cast during the Financial year 2016-17


Company Name Type of meetings

(AGM/EGM)

Proposal by Management

or Shareholder

Proposal's description Investee company’s

Management Recom-

mendation

Vote (For/

Against/ Abstain)


Apr-Jun 2016

19-Apr-2016

Crisil Ltd AGM Management Adoption of Financial Statements In Favour For Vote in favor, in line with general disclosure practice

Apr-Jun 2016

19-Apr-2016

Crisil Ltd AGM Management Declaration of final dividend of Rs.7 and special dividend of Rs.3 per equity share of face value Rs.1 each of the Company, and to approve and confirm the declaration and payment of three interim dividends aggregrating Rs. 13 per equity share for the year ended December 31, 2015

In Favour For Vote in favor, investor friendly measure

Apr-Jun 2016

19-Apr-2016

Crisil Ltd AGM Management Re-appointment of Mr. Yann Le Pallec who retires by rotation and being eligible, seeks re-appointment

In Favour For The firm is capable and eligible for reappointment hence vote in favor

Apr-Jun 2016

19-Apr-2016

Crisil Ltd AGM Management Ratification of the appointment of S.R. Batliboi & Co. LLP, Chartered Accountants, as Statutory Auditors of the Company

In Favour For The firm is capable and eligible for reappointment hence vote in favor

Apr-Jun 2016

19-Apr-2016

Crisil Ltd AGM Management Appointment of Mr. John Francis Callahan Jr. as a Non-Executive Director, liable to retire by rotation

In Favour For The firm is capable and eligible hence vote in favor

Apr-Jun 2016

11-May-2016

Essel Propack Ltd EGM Management Reduction of Share Capital of Company under Section 100 to 103 of the Companies Act, 1956

In Favour For Vote in favor

Apr-Jun 2016

31-May-2016

Bharat Petroleum PB Management To seek Shareholders' consent for increasing the ceiling of Investment by Foreign Institutional Investors in the shareholding of the BPCL from 24% up to 49% in one or more tranches subject to regulatory authorities approval.

In Favour For Vote in Favor, will help broaden investor base

Apr-Jun 2016

4-Jun-2016

Britannia Industries

CRT Management For considering the proposed Scheme of Arrangement between Daily Bread Gourmet Foods (India) Private Limited and Britanni Industries Limited and their respective shareholders and creditors.

In Favour For Vote in favor as its part of continuing buisness decision

Apr-Jun 2016

6-Jun-2016

SKS Microfinance PB Management Approval for change of the Company's existing name SKS Microfinance Ltd to Bharat Financial Inclusion Ltd and consequent alterations in the MOA and AOA

In Favour For Vote in favor as it better reflects the company's strategic positioning

Apr-Jun 2016

14-Jun-2016

MindTree CRT Management Scheme of Amalgamation In Favour For In line with growth objectives, vote in favor

Apr-Jun 2016

17-Jun-2016

Essel Propack AGM Management Adoption of Accounts In Favour For In line, Vote in favor

Apr-Jun 2016

17-Jun-2016

Essel Propack AGM Management Declaration of Dividend of Rs 2.20 per equity shares of face value of Rs 2 each

In Favour For Shareholder friendly measure, vote in favor

Apr-Jun 2016

17-Jun-2016

Essel Propack AGM Management Appointment of Mr Atul Goel as Director In Favour For The person is capable and eligible, hence vote in favor

Apr-Jun 2016

17-Jun-2016

Essel Propack AGM Management "Appointment of M/s MGB & Co, Chartered Accountants as Auditors"

In Favour For The auditors are capable and eligible, hence vote in favor

Apr-Jun 2016

17-Jun-2016

Essel Propack AGM Management "Payment of remuneration of M/s R Nanabhoy & Co, Cost Accountants"

In Favour For In line with industry practice, Vote in favor

Apr-Jun 2016

17-Jun-2016

Essel Propack AGM Management "remuneration of Mr Ashok Goel, Vice Chairman and Managing Director"

In Favour For The person is capable and eligible, hence vote in favor

Apr-Jun 2016

17-Jun-2016

Essel Propack AGM Management "Keeping registers, returns, etc. at registered office/other place"

In Favour For In line, Vote in favor

Apr-Jun 2016

17-Jun-2016

Tata Consultancy Ser

AGM Management Adoption of Accounts In Favour For In line, Vote in favor

Apr-Jun 2016

17-Jun-2016


AGM Management Declaration of Dividend In Favour For In line, Vote in favor

Apr-Jun 2016

17-Jun-2016


AGM Management Re-appointment of Mr Ishaat Hussain as Director In Favour For The person is capable and eligible, hence vote in favor

Apr-Jun 2016

17-Jun-2016


AGM Management "Appointment of M/s Deloitte Haskins & Sells, Ch artered Accountants as Auditors"


Apr-Jun 2016

17-Jun-2016


AGM Management Appointment of Branch Auditors In Favour For In line, Vote in favor

Apr-Jun 2016

18-Jun-2016

Eicher Motors AGM Management Adoption of Accounts In Favour For In line, Vote in favor

Apr-Jun 2016

18-Jun-2016

Eicher Motors AGM Management Approve interim dividend of Rs 100 per Equity Shares


Apr-Jun 2016

18-Jun-2016

Eicher Motors AGM Management "Appointment of M/s Deloitte Haskins & Sells, Chartered Accountants as Auditors"


Apr-Jun 2016

18-Jun-2016

Eicher Motors AGM Management Re-appointment of Mr Siddhartha Lal as Managing Director


Apr-Jun 2016

18-Jun-2016

Eicher Motors AGM Management Payment of Remuneration to Mr Siddhartha Lal as Managing Director



8



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Apr-Jun 2016

22-Jun-2016

GRUH Finance AGM Management Adoption of Accounts In Favour For In line, Vote in favor

Apr-Jun 2016

22-Jun-2016

GRUH Finance AGM Management Declaration of Dividend In Favour For Shareholder friendly measure, vote in favor

Apr-Jun 2016

22-Jun-2016

GRUH Finance AGM Management Re-appointment of Mr Keki M Mistry who retires by rotation


Apr-Jun 2016

22-Jun-2016

GRUH Finance AGM Management Re-appointment of Ms Renu S Karnad who retires by rotation


Apr-Jun 2016

22-Jun-2016

GRUH Finance AGM Management Ratification of appointment of M/s Sorab S Engineer & Co as Auditors and fixing their remuneration


Apr-Jun 2016

22-Jun-2016

GRUH Finance AGM Management "Approval of increase in the borrowing powers from Rs 12,000 crores to Rs 15,000 crores under the provisions of Section 180(1)(c) of the Companies Act, 2013"

In Favour For In line with business growth requirements, vote in favor

Apr-Jun 2016

22-Jun-2016

GRUH Finance AGM Management "Approval for issuance of Redeemable Non Convertible Debentures upto an amount not exceeding Rs 3,500 crores and issuance of Unsecured Redeemable Subordinated Debt Tier II NCDs upto an amount of Rs 115 crores."

In Favour For In line with business growth requirements, vote in favor

Apr-Jun 2016

30-Jun-2016

State Bank of India

AGM Management Adoption of Account In Favour For In line, Vote in favor

Apr-Jun 2016

16-Jun-2016

Repco Home Finance

PB Management To re-appoint R.Varadarajan (DIN: 02020709) as a Managing Director for a period of Three (3) months from 1st October 2015 to 31st December 2015


Apr-Jun 2016

16-Jun-2016

Repco Home Finance

PB Management To re-appoint R.Varadarajan (DIN: 02020709) as a Managing Director for a period of Three (3) Years from 1st January, 2016 to 31st December, 2018


Apr-Jun 2016

18-Jun-2016

Infosys Limited AGM Management Adoption of financial statements (including the consolidated financial statements)


Apr-Jun 2016

18-Jun-2016

Infosys Limited AGM Management Declaration of dividend In Favour For Shareholder friendly measure, vote in favor

Apr-Jun 2016

18-Jun-2016

Infosys Limited AGM Management Appointment of Dr. Vishal Sikka as a director liable to retire by rotation


Apr-Jun 2016

18-Jun-2016

Infosys Limited AGM Management Appointment of Auditors In Favour For In line, Vote in favor

Apr-Jun 2016

28-Jun-2016

Supreme Industries

AGM Management Adoption of Accounts In Favour For In line, Vote in favor

Apr-Jun 2016

28-Jun-2016

Supreme Industries

AGM Management Confirm the payment of 1st Interim Dividend and 2nd Interim Dividend on Equity Shares


Apr-Jun 2016

28-Jun-2016

Supreme Industries

AGM Management Re-appointment of Shri Bajranglal Surajmal as Director


Apr-Jun 2016

28-Jun-2016

Supreme Industries

AGM Management Appointment of M/s Chhogmal & Co Chartered Accountants as Auditors


Apr-Jun 2016

28-Jun-2016

Supreme Industries

AGM Management "Appointment of M/s Kishore Bhatia & Associates, Cost Accountants as Cost Auditors"


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements for the Financial Year ended March 31, 2016, together with the Reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management To declare Dividend on Equity Shares for the Financial Year ended March 31, 2016.


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management To appoint a Director in place of Mr. R. Seshasayee, DIN 00047985, who retires by rotation and, being eligible, offers himself for re-appointment.


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management To appoint Statutory Auditors of the Bank and authorise the Board of Directors to fix their remuneration.


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management Appointment of Mr. Shanker Annaswamy, DIN 00449634, as Independent Director.


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management Appointment of Dr. T. T. Ram Mohan, DIN 00008651, as Independent Director.


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management Remuneration to Non-Executive Directors of the Bank.


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management Remuneration to Mr. R. Seshasayee, DIN 00047985, Part-time Non-Executive Chairman.



9



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

1-Jul-2016

Indusind Bank AGM Management Issue of Long Term Bonds / Non-Convertible Debentures on Private Placement Basis.

In Favour For In line with requirement for growing business, hence vote in favor

Jul-Sep 2016

5-Jul-2016

Bharat Petroleum PB Management Issue of Bonus Shares in the ratio of 1 1 i.e. 1 (One) new bonus equity share of Rs 10 each for every existing 1 (One) fully paid up equity share of Rs 10 each.


Jul-Sep 2016

5-Jul-2016

Ajanta Pharma AGM Management Adoption of Accounts In Favour For In line, Vote in favor

Jul-Sep 2016

5-Jul-2016

Ajanta Pharma AGM Management Declaration of Dividend In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

5-Jul-2016

Ajanta Pharma AGM Management Re-appointment of Mr Mannalal B Agrawal as Director


Jul-Sep 2016

5-Jul-2016

Ajanta Pharma AGM Management Re-appointment of Mr Purushottam B Agrawal as Director


Jul-Sep 2016

5-Jul-2016

Ajanta Pharma AGM Management "Appointment of M/s Kapoor & Parekh Associates, Chartered Accountants as Auditors"


Jul-Sep 2016

5-Jul-2016

Ajanta Pharma AGM Management "Payment of remuneration to Cost Auditors M/s Sevekari Khare & Associates, Cost Accountant"


Jul-Sep 2016

22-Jul-2016

Sundaram Finance ltd

AGM Management Adoption of Accounts for the financial year 2015-16 In Favour For In line, vote in favor

Jul-Sep 2016

22-Jul-2016


AGM Management Declaration of Final Dividend for the Financial Year 2015-16


Jul-Sep 2016

22-Jul-2016


AGM Management Appointment of a director in the place of Sri T.T. Srinivasaraghavan, who retires by rotation and being eligible, seeks re-appointment

In Favour For In line, vote in favor

Jul-Sep 2016

22-Jul-2016


AGM Management Appointment of a director in the place of Sri S. Ravindran, who retires by rotation and being eligible, seeks re-appointment


Jul-Sep 2016

22-Jul-2016


AGM Management Appointing M/s. Brahmayya & Co. as the statutory auditors of the Company


Jul-Sep 2016

26-Jul-2016

Tata Elxsi Ltd AGM Management To consider and adopt the Audited Financial Statement


Jul-Sep 2016

26-Jul-2016

Tata Elxsi Ltd AGM Management To declare dividend on equity shares for the financial year 2015-16.


Jul-Sep 2016

26-Jul-2016

Tata Elxsi Ltd AGM Management To appoint a Director in place of Mr. N.G. Subramaniam who retires by rotation and is eligible for re-appointment.


Jul-Sep 2016

26-Jul-2016

Tata Elxsi Ltd AGM Management To ratify the re-appointment of Deloitte Haskins & Sells, Statutory Auditors, who have been appointed at the Annual General Meeting held on 18th July, 2014 for a period of three years upto the conclusion of 28th AGM to be held in the year 2017.


Jul-Sep 2016

26-Jul-2016

Tata Elxsi Ltd AGM Management To consider and, if thought fit, to pass with or without modification(s), the following resolution as an Ordinary Resolution:

“RESOVLED THAT Prof. M.S. Ananth (DIN No.00482391) who have been appointed as an Additional Director (Independent Director) and holds office upto the date of this Annual General Meeting of the Company, and is eligible for re-appointment and in respect of whom the company has received a notice u/s 160 of the Companies Act, 2013 (“the Act”) proposing his candidature to the office of Directorship, be and is hereby appointed as a Director.”

“RESOLVED FURTHER THAT pursuant to the provisions of Sections 149, 152 and other applicable provisions, if any, of the Companies Act, 2013 and the Rules framed thereunder read with Schedule IV to the Act, as amended from time to time, Prof. M.S. Ananth (DIN No.00482391) be and is hereby appointed as an Independent Director of the Company, to hold office upto 14th November, 2020.”



10



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

26-Jul-2016

Tata Elxsi Ltd AGM Management To consider and, if thought fit, to pass with or without modification the following resolution as a Special Resolution:“RESOLVED THAT pursuant to the Provisions of Section 197 and other applicable provisions, if any, of the Companies Act, 2013, a sum not exceeding 1% per annum of the net profits of the Company calculated in accordance with the provisions of Sections 198 and other applicable provisions of the Act, be and is hereby approved for payment to and distribution amongst the Directors of the Company or some or any of them (other than the Managing Director and Whole-time Directors, if any) in such amounts or proportions and in such a manner and in all respects as may be directed by the Board of Directors of the Company on the recommendation of the Nomination & Remuneration Committee (NRC) in term of the Remuneration Policy of the Company, and that such payments and distribution shall be made in respect of the profits of the Company for each year of the period of five years commencing from 1st April, 2016.”

In Favour For In line with market practice, hence vote in favor

Jul-Sep 2016

26-Jul-2016

Bajaj Finance Ltd AGM Management To consider and adopt the standalone and consolidated financial statements


Jul-Sep 2016

26-Jul-2016

Bajaj Finance Ltd AGM Management To declare final dividend In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

26-Jul-2016

Bajaj Finance Ltd AGM Management To appoint a Director in place of Rahul Bajaj (DIN00015429), Chairman, who retires by rotation and being eligible offers himself for re-appointment


Jul-Sep 2016

26-Jul-2016

Bajaj Finance Ltd AGM Management Appointment of Dalal & Shah LLP, Chartered Accountants as auditors of the company


Jul-Sep 2016

26-Jul-2016

Bajaj Finance Ltd AGM Management Issue of non-convertible debentures through private placement

In Favour For In line with reqmts of business, vote in favor

Jul-Sep 2016

27-Jul-2016

Housing Dev. Fin. Corp

AGM Management Adoption of the audited financial statement of the Corporation for the financial year ended March 31, 2016 together with the reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

27-Jul-2016


AGM Management Adoption of the audited consolidated financial statement for the financial year ended March 31, 2016 together with the report of the Auditors thereon.


Jul-Sep 2016

27-Jul-2016


AGM Management Declaration of final dividend on equity shares of the Corporation.


Jul-Sep 2016

27-Jul-2016


AGM Management Appointment of Mr. D. M. Sukthankar, who retires by rotation and, being eligible, offers himself for re-appointment.


Jul-Sep 2016

27-Jul-2016


AGM Management Ratification of the appointment of Messrs Deloitte Haskins & Sells LLP, Chartered Accountants as the Auditors of the Corporation and fixing their remuneration.


Jul-Sep 2016

27-Jul-2016


AGM Management Ratification of the appointment of Messrs PKF, Chartered Accountants as the Auditors of the Corporation’s office at Dubai.


Jul-Sep 2016

27-Jul-2016


AGM Management Approval to issue Redeemable Non-Convertible Debentures on a private placement basis, up to an amount not exceeding Rs. 85,000 crore.

In Favour For In line with reqmts of business, vote in favor

Jul-Sep 2016

27-Jul-2016


AGM Management Enter into various related party transactions with HDFC Bank Ltd


Jul-Sep 2016

27-Jul-2016


AGM Management Authority to the Board of Directors of the Corporation to borrow monies for the purposes of the business of the Corporation upto an amount not exceeding Rs 3,50,000 crore

In Favour For In line with the business objectives and growth plans of the company and hence vote in favor

Jul-Sep 2016

27-Jul-2016


AGM Management Re appointment of Mr Keki M Mistry as Managing Director


Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management Declaration of Dividend In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management Re appointment of Director In Favour For The person is capable and eligible, hence vote in favor


11



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management "Appointment of M s S R Batliboi & Associates, Chartered Accountants as Auditors"


Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management Appointment of Mr Shivram Narayanaswami as Non Executive Non Independent Director


Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management Appointment of Mr Sean Ernest Deason as Additional Director


Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management Appointment of Dr Lakshmi Venu as Non Executive Non Independent Director


Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management "Payment of remuneration to Cost Auditors Mr A N Raman, Cost Accountant"


Jul-Sep 2016

29-Jul-2016

WABCO (India) AGM Management Enter into contracts with other related parties In Favour For In line with reqmts of business, vote in favor

Jul-Sep 2016

2-Aug-2016

TVS Motors Company Ltd

AGM Management Adoption of audited financial statements including the consolidated financial statements for the year ended 31st March 2016 and the reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

2-Aug-2016


AGM Management Re-appointment of Mr H Lakshmanan as director, who retires by rotation.


Jul-Sep 2016

2-Aug-2016


AGM Management Re-appointment of M/s V Sankar Aiyar & Co. Chartered Accountants, Mumbai as Statutory Auditors and fixing their remuneration.


Jul-Sep 2016

2-Aug-2016


AGM Management Approving the variation in the terms of remuneration payable to Mr Venu Srinivasan, Chairman and Managing Director of the Company, effective 1st April 2016.


Jul-Sep 2016

2-Aug-2016


AGM Management Approving the revision in the terms of remuneration payable to Mr Sudarshan Venu, Joint Managing Director of the Company, effective 1st April 2015.


Jul-Sep 2016

2-Aug-2016


AGM Management Ratification of remuneration payable to Mr A N Raman, Practising Cost Accountant as cost auditor for the year 2016-17.


Jul-Sep 2016

3-Aug-2016

Lupin Ltd AGM Management Adoption of the Standalone audited financial statements including Balance Sheet as at March 31, 2016, Statement of Profit and Loss and Cash Flow Statement for the year ended on that date and the reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

3-Aug-2016

Lupin Ltd AGM Management Adoption of the Consolidated audited financial statements including Balance Sheet as at March 31, 2016, Statement of Profit and Loss and Cash Flow Statement for the year ended on that date and the report of the Auditors thereon.


Jul-Sep 2016

3-Aug-2016

Lupin Ltd AGM Management Declaration of dividend at Rs. 7.50 per equity share for the year ended March 31, 2016.


Jul-Sep 2016

3-Aug-2016

Lupin Ltd AGM Management Appointment of Mr. Nilesh Gupta as a director, who retires by rotation and being eligible, offers himself, for re-appointment.


Jul-Sep 2016

3-Aug-2016

Lupin Ltd AGM Management Appointment of BSR & Co. LLP, Chartered Accountants, as Statutory Auditors of the Company for a term of five years from the conclusion of the 34th AGM till the conclusion of the 39th AGM subject to ratification of their appointment by the Members at every Annual General Meeting and to fix their remuneration.


Jul-Sep 2016

3-Aug-2016

Lupin Ltd AGM Management Appointment of Mr. Ramesh Swaminathan as a Chief Financial Officer and Executive Director as a Director.


Jul-Sep 2016

3-Aug-2016

Lupin Ltd AGM Management Appointment of Mr. Jean-Luc Belingard as a Independent Director as a Director.


Jul-Sep 2016

3-Aug-2016

Lupin Ltd AGM Management Ratifying the remuneration payable to Mr. S. D. Shenoy, Cost Auditor, for conducting cost audit for the year ending March 31, 2017.


Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management Adoption of Accounts (Standlone) In Favour For In line, vote in favor

Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management "Revision in remuneration of Mr Anant J Talaulicar, Managing Director"


Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management Adoption of Accounts (Consolidated) In Favour For In line, vote in favor


12



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management Declaration of Dividend In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management Re appointment of Mr Mark Smith as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management Re appointment of Mr Casimiro Antonio Vieira Leitao as Director


Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management "Appointment of M s S R B C & Co LLP, Chartered Accountants as Auditors"


Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management "Payment of remuneration to Cost Auditors M s Ajay Joshi & Associates, Cost Accountant"


Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management Enter into various related party transactions with Cummins Ltd


Jul-Sep 2016

4-Aug-2016

Cummins India AGM Management Enter into various related party transactions with Tata Cummins Pvt Ltd


Jul-Sep 2016

4-Aug-2016

Ramco Cements AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

4-Aug-2016

Ramco Cements AGM Management Appointment of Shri P R Ramasubrahmaneya Rajha as Director


Jul-Sep 2016

4-Aug-2016

Ramco Cements AGM Management "Appointment of M s M S Jagannathan & N Krishnaswami, Chartered Accountants as Auditors"


Jul-Sep 2016

4-Aug-2016

Ramco Cements AGM Management Appointment of Shri P R Ramasubrahmaneya Rajha as Chairman & Managing Director


Jul-Sep 2016

4-Aug-2016

Triveni Turbine AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

4-Aug-2016

Triveni Turbine AGM Management Declaration of Dividend In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

4-Aug-2016

Triveni Turbine AGM Management Re appointment of Mr Arun Prabhakar Mote as Director


Jul-Sep 2016

4-Aug-2016

Triveni Turbine AGM Management "Appointment of M s J C Bhalla & Co, Chartered Accountants as Auditors"


Jul-Sep 2016

4-Aug-2016

Triveni Turbine AGM Management "Payment of remuneration to Cost Auditors M s J H & Associates, Cost Accountant"


Jul-Sep 2016

4-Aug-2016

Triveni Turbine AGM Management Re appointment of Mr Dhruv M Sawhney as Managing Director


Jul-Sep 2016

4-Aug-2016

Triveni Turbine AGM Management Re appointment of Mr Nikhil Sawhney as Managing Director


Jul-Sep 2016

6-Aug-2016

Amara Raja Batt AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

6-Aug-2016

Amara Raja Batt AGM Management Confirmation of Interim Dividend and declaration of Final Dividend


Jul-Sep 2016

6-Aug-2016

Amara Raja Batt AGM Management Appointment of Dr Ramachandra N Galla as Director


Jul-Sep 2016

6-Aug-2016

Amara Raja Batt AGM Management "Appointment of M s Brahmayya & Co, & M s Deloitte Haskins & Sells, Chartered Accountants as Joint Statutory Auditors"


Jul-Sep 2016

6-Aug-2016

Amara Raja Batt AGM Management Appointment of Mr Raphael John Shemanski as Director


Jul-Sep 2016

6-Aug-2016

Amara Raja Batt AGM Management "Appointment of M s Sagar & Associates, Cost Accountants as Cost Auditors"


Jul-Sep 2016

8-Aug-2016

Britannia Industries Ltd

AGM Management To receive, consider and adopt the Audited Financial Statements (including Audited Consolidated Financial Statements) for the financial year ended 31 March, 2016 and the Reports of the Directors and Auditors thereon.


Jul-Sep 2016

8-Aug-2016


AGM Management To declare dividend for the financial year ended 31 March, 2016.


Jul-Sep 2016

8-Aug-2016


AGM Management To appoint a Director in place of Mr. Nusli N Wadia (holding DIN: 00015731), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.



13



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

8-Aug-2016


AGM Management To appoint Statutory Auditors and to fix their remuneration and in this regard to consider and, if thought fit, to pass with or without modification(s), the following resolution as an Ordinary Resolution:“RESOLVED THAT pursuant to the provisions of Section 139, 142 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, M/s. B S R & Co. LLP., Chartered Accountants (Firm Reg. No. 101248W/W-100022), be and are hereby re-appointed as Statutory Auditors of the Company to hold office from the conclusion of this AGM till the conclusion of the 3rd consecutive AGM, subject to ratification of appointment by the Members at every AGM, at a remuneration to be decided by the Board of Directors in consultation with the Auditors plus applicable service tax and reimbursement of travelling and out of pocket expenses incurred by them for the purpose of audit.”


Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management To receive, consider and adopt(a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2016 together with the Reports of the Board of Directors and the Auditors thereon; and(b) the Audited Consolidated Financial Statements of the Company for the Financial year ended March 31, 2016 together with the Report of the Auditors thereon.


Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management To declare a dividend on Ordinary Shares and ‘A’ Ordinary Shares.


Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management To appoint a Director in place of Mr Ravindra Pisharody (DIN: 01875848), who retires by rotation and being eligible, offers himself for re-appointment.


Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management Ratification of Auditors’ AppointmentTo consider and if thought fit, to pass the following resolution as an Ordinary Resolution:“RESOLVED that pursuant to the provisions of Section 139 and such other applicable provisions, if any, of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, as amended from time to time and pursuant to the resolution passed by the Members at the Sixty-Ninth Annual General Meeting (AGM) held on July 31, 2014 in respect of appointment of the auditors, Deloitte Haskins & Sells LLP, Chartered Accounts (ICAI Firm Registration No.117366W/W-100018) (DHS) till the conclusion of the AGM to be held in the year 2017, the Company hereby ratifies and confirms the appointment of DHS, as Auditors of the Company to hold office from the conclusion of this AGM till the conclusion of the Seventy- Second AGM of the Company to be held in the year 2017 to examine and audit the accounts of the Company for the Financial Year ending March 31, 2017 on such remuneration as may be mutually agreed between the Board of Directors of the Company and the Auditors.”


Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management Appointment of Mr Guenter Butschek as a Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management Appointment of Mr Guenter Butschek as the Chief Executive Officer and Managing Director (Commercial Vehicles) and payment of remuneration


Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management Re-appointment of Mr Ravindra Pisharody – Executive Director (Commercial Vehicles) and payment of remuneration


Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management Re-appointment of Mr Satish Borwankar – Executive Director (Quality) and payment of remuneration


Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management Payment of Remuneration to the Cost Auditor In Favour For In line, vote in favor

Jul-Sep 2016

9-Aug-2016

Tata Motors Ltd AGM Management Offer or invite for Subscription of Non-Convertible Debentures on private placement basis

In Favour For In line with reqmts of business, hence vote in favor


14



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

9-Aug-2016

S H Kelkar And Comp Ltd

AGM Management To receive, consider, approve and adopt the audited Standalone and Consolidated Financial Statements of the Company for the year ended 31 March, 2016, along with the Report of Board of Directors and Auditors thereon.


Jul-Sep 2016

9-Aug-2016


AGM Management To confirm interim dividend on equity shares declared for the financial year 2015-16 as final dividend.


Jul-Sep 2016

9-Aug-2016


AGM Management To appoint a Director in place of Mr. Amit Dalmia (DIN: 05313886), non-executive/non-independent Director, who retires by rotation and being eligible, offers himself for re-appointment.


Jul-Sep 2016

9-Aug-2016


AGM Management To ratify appointment of B S R & Co. LLP, Chartered Accountants (Registration No. 101248W/W-100022), as Statutory Auditors of the Company


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management To receive, consider and adopt the Financial Statements for the year ended/as on 31 March, 2016 and the reports of the Board of Directors and the Auditors


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management To declare dividend on Equity Share Capital of the Company


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management To appoint a Director in place of Mr. Ajay K Das (DIN: 02697466), who retires by rotation and, being eligible, offers himself for reappointment


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management To ratify the appointment of Auditors of the Company


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management Appointment of Mr. Avishrant Keshava (DIN: 07292484) as a Director of the Company


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management Appointment of Mr. Avishrant Keshava (DIN: 07292484) as Whole-time Director of the Company


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management Ratification of remuneration payable to the Cost Auditors for the year 2016-17


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management Material transactions with Related Party - The Timken Company


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management Material transactions with Related Party - The Timken Corporation


Jul-Sep 2016

10-Aug-2016

Timken India Ltd AGM Management Material transactions with Related Party - Timken Engineering and Research - India Pvt. Ltd.


Jul-Sep 2016

27-Aug-2016

Bajaj Finance Ltd PB Management Sub-division of Equity Shares In Favour For In line, vote in favor

Jul-Sep 2016

27-Aug-2016

Bajaj Finance Ltd PB Management Increase in Authorised Share Capital In Favour For In line, vote in favor

Jul-Sep 2016

27-Aug-2016

Bajaj Finance Ltd PB Management Issue of bonus equity shares In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

31-Aug-2016

Kotak Mahindra Bank

PB Management Issuance of securities in the nature of unsecured, redeemable non convertible debentures bonds on private placement basis

In Favour For In line with reqmt of business, vote in favor

Jul-Sep 2016

2-Sep-2016

Alkem Laboratories Ltd

AGM Management Receive, consider and adopt:a) the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2016 and the Reports of the Board of Directors and Auditors thereon;b) the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2016 and the Reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

2-Sep-2016


AGM Management Confirmation and approval of payment of the first interim dividend of Rs.3/- per Equity Share and second interim dividend of Rs. 9.7/- per Equity Share of Face Value of Rs.2/- each paid during the financial year ended 31st March, 2016


Jul-Sep 2016

2-Sep-2016


AGM Management Appointment of Mr. Dhananjay Kumar Singh (DIN: 00739153), who retires by rotation and being eligible, offers himself, for re-appointment as a director.


Jul-Sep 2016

2-Sep-2016


AGM Management Ratification of appointment of M/s. B S R & Co. LLP, Chartered Accountants, Mumbai (Firm Registration No. 101248W/ W-100022) as Statutory Auditors of the Company.



15



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

2-Sep-2016


AGM Management Ratification for the Payment of the Remuneration to Mr. Suresh D Shenoy,Cost Accountant (Membership No. 8318), as Cost Auditor of the Company.


Jul-Sep 2016

2-Sep-2016


AGM Management Approval for maintenance of the Register of Members at a place other than Registered Office of the Company.


Jul-Sep 2016

2-Sep-2016


AGM Management Approval for increase in remuneration of Mr. Basudeo N. Singh, Executive Chairman of the Company.


Jul-Sep 2016

2-Sep-2016

Pidilite Industries AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

2-Sep-2016

Pidilite Industries AGM Management Confirmation of Interim Dividend and declaration of Final Dividend


Jul-Sep 2016

2-Sep-2016

Pidilite Industries AGM Management Re appointment of Shri A B Parekh as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

2-Sep-2016

Pidilite Industries AGM Management Re appointment of Shri Sabyaschi Patnaik as Director


Jul-Sep 2016

2-Sep-2016

Pidilite Industries AGM Management "Appointment of M s Deloitte Haskins & Sells, Chartered Accountants as Auditors"


Jul-Sep 2016

2-Sep-2016

Pidilite Industries AGM Management Appointment of Shri Vinod Kumar Dasari as Additional Director


Jul-Sep 2016

2-Sep-2016

Pidilite Industries AGM Management "Payment of remuneration to Cost Auditors M s V J Talati & Co, Cost Accountant"


Jul-Sep 2016

2-Sep-2016

Pidilite Industries AGM Management Appointment of Shri M B Parekh as Executive Chairman


Jul-Sep 2016

3-Sep-2016

Manpasand Beverages

PB Management Variation in terms of the objects of the Issue In Favour For In line, vote in favor

Jul-Sep 2016

5-Sep-2016

Manpasand Beverages

AGM Management Adoption of Balance Sheet, Statement of Profit and Loss, Board's Report and Auditor's Report for the Financial year st ended 31 March, 2016


Jul-Sep 2016

5-Sep-2016

Manpasand Beverages

AGM Management Re-appointment of Mr. Vishal Sood, who retire by Rotation


Jul-Sep 2016

5-Sep-2016

Manpasand Beverages

AGM Management Re-appointment of Mr. Dhruv Agrawal, who retire by Rotation


Jul-Sep 2016

5-Sep-2016

Manpasand Beverages

AGM Management Appointment of Auditors and f ixing their remuneration


Jul-Sep 2016

5-Sep-2016

Manpasand Beverages

AGM Management Revision in the remuneration of Mr. Dhirendra Singh, (DIN:- 00626056), Chairman & Managing Director of the Company


Jul-Sep 2016

5-Sep-2016

Manpasand Beverages

AGM Management Revision in the remuneration of Mr. Abhishek Singh, (DIN:- 01326637), Whole Time Director of the Company


Jul-Sep 2016

5-Sep-2016

Manpasand Beverages

AGM Management Increase in authorised share capital of the Company


Jul-Sep 2016

5-Sep-2016

Manpasand Beverages

AGM Management Raising of finance through issue of equity shares In Favour For In line with the business objectives and growth plans of the company and hence vote in favor

Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management To consider and adopt the Audited Financial Statements of the Bank for the financial year ended March 31, 2016 together with the Reports of the Board of Directors and the Auditors thereon.


Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management To confirm the interim dividend paid during the year. In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management To appoint Director in place of Mr. Narayan Ramachandran (DIN 01873080), who retires by rotation and being eligible, offers himself for re-appointment.


Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management To appoint Auditors and to fix their remuneration In Favour For In line, vote in favor

Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management To appoint Branch Auditors and to fix their remuneration


Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management Appointment of Mr. Rajeev Ahuja as Whole-time Director


Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management Appointment of Mr. Prakash Chandra as an Independent Director



16



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management Appointment of Mr. Ishan Raina as an Independent Director


Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management Revision in the remuneration of Mr. Vishwavir Ahuja, Managing Director & Chief Executive Officer of the Bank


Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management Issue of Long Term Bonds/ Non-convertible debentures on private placement basis


Jul-Sep 2016

6-Sep-2016

RBL Bank AGM Management Increase in Borrowing Powers In Favour For In line with the business objectives and growth plans of the company and hence vote in favor

Jul-Sep 2016

7-Sep-2016

Interglobe Aviation Ltd

PB Management Ratification and amendment of the Inter Globe Aviation Limited Employees Stock Option Scheme - 2015 (“ESOS 2015 - II”)


Jul-Sep 2016

7-Sep-2016

Hindustan Petroleum Corp.Ltd

AGM Management To receive, consider and adopt the Audited Financial Statement of the Corporation for the Financial Year ended March 31, 2016 and Reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

7-Sep-2016


AGM Management To confirm interim Equity dividends declared for Financial Year 2015-16 and to approve Final Equity Dividend for the Financial Year 2015-16.


Jul-Sep 2016

7-Sep-2016


AGM Management To appoint a Director in place of Shri Pushp Kumar Joshi (DIN05323634), who retires by rotation and being eligible, offers himself for reappointment


Jul-Sep 2016

7-Sep-2016


AGM Management To appoint a Director in place of Shri Y.K. Gawali (DIN05294482), who retires by rotation and being eligible, offers himself for reappointment.


Jul-Sep 2016

7-Sep-2016


AGM Management To consider an increase in the Remuneration payable to Statutory Auditors for Financial Year 2015-16 from Rs. 30 lakhs to Rs. 41 lakhs.


Jul-Sep 2016

7-Sep-2016


AGM Management Appointment of Shri J. Ramaswamy (DIN06627920) as Director of the Corporation


Jul-Sep 2016

7-Sep-2016


AGM Management Appo in tmen t o f Shr i Ram N iwas Ja in (DIN00671720) as Independent Director of the Corporation.


Jul-Sep 2016

7-Sep-2016


AGM Management Appoin tment o f Ms. Urvash i Sadhwani (DIN03487195) as Director of the Corporation.


Jul-Sep 2016

7-Sep-2016


AGM Management Appointment of Shri Mukesh Kumar Surana (DIN07464675) as Chairman & Managing Director of the Corporation.


Jul-Sep 2016

7-Sep-2016


AGM Management Payment of Remuneration to Cost Auditors for Financial Year 2016-17


Jul-Sep 2016

7-Sep-2016


AGM Management Approval for Material Related Party Transactions In Favour For In line, vote in favor

Jul-Sep 2016

7-Sep-2016


AGM Management Approval to amend the Articles of Association of the Company for increase in the Number of Directors.


Jul-Sep 2016

7-Sep-2016


AGM Management To increase Authorized Capital of the Company and amend the Capital Clause in the Memorandum of Association & Article of Association of the Company.


Jul-Sep 2016

7-Sep-2016


AGM Management To capitalize Reserves of the Company and to issue Bonus Shares.


Jul-Sep 2016

8-Sep-2016

Maruti Suzuki(I)Ltd

AGM Management To receive, consider and adopt the financial statements of the Company for the year ended 31st March 2016 including the audited Balance Sheet as at 31st March 2016, the statement of Profit and Loss for the year ended on that date and the reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

8-Sep-2016

Maruti Suzuki(I)Ltd

AGM Management To declare dividend on equity shares In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

8-Sep-2016

Maruti Suzuki(I)Ltd

AGM Management To appoint a director in place of Mr. R.C.Bhargava (DIN: 00007620), who retires by rotation and being eligible, offers himself for re-appointment.


Jul-Sep 2016

8-Sep-2016

Maruti Suzuki(I)Ltd

AGM Management To appoint a director in place of Mr. Kazuhiko Ayabe (DIN: 02917011), who retires by rotation and being eligible, offers himself for re-appointment.



17



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

8-Sep-2016

Maruti Suzuki(I)Ltd

AGM Management To consider and, if thought fit, to pass with or without modification(s), the following as an Ordinary Resolution:“RESOLVED THAT pursuant to Section 139 and other applicable provisions of the Companies Act, 2013, M/s Deloitte Haskins & Sells LLP (Regn. No. 117366W/W-100018) having offered themselves for appointment, be and are hereby appointed as the auditors of the Company to hold office from the conclusion of the 35th annual general meeting upto the conclusion of the 40th annual general meeting of the Company at a remuneration to be fixed by the board and reimbursement of out of pocket expenses incurred in connection with the audit.”


Jul-Sep 2016

8-Sep-2016

Maruti Suzuki(I)Ltd

AGM Management Re-appointment of Mr. Kenichi Ayukawa as Managing Director and Chief Executive Officer


Jul-Sep 2016

8-Sep-2016

Maruti Suzuki(I)Ltd

AGM Management Re-appointment of Mr. Toshiaki Hasuike as Joint Managing Director


Jul-Sep 2016

8-Sep-2016

Maruti Suzuki(I)Ltd

AGM Management Ratification of remuneration of M/s R.J.Goel & Co., the cost auditors


Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Appointment of Mr Sanjay Bajpai as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Appointment of Mr Pradip Kumar Agrawal as Director


Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Appointment of Mr Sanjay Swarup as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Increase in Authorised Share Capital from Rs 200 crore to Rs 400 crore


Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Amendment in Clause V of the Memorandum of Association


Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Amendment in Article 5 of the Articles of Association In Favour For In line, vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Declaration of Dividend In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Re appointment of Mr Anil Kumar Gupta as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Re appointment of Dr P Alli Rani as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management "Appointment of M s Kumar Vijay Gupta & Co, Chartered Accountants as Statutory Auditors"


Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Appointment of Mr Kamlesh Shivji Vikamsey as Director


Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Appointment of Mr Raj Krishan Malhotra as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Appointment of Mr Sanjeev S Shah as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

13-Sep-2016

Container Corp AGM Management Appointment of Mr S K Sharma as Director In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

14-Sep-2016

Indian Oil Corporation Ltd

AGM Management To receive, consider and adopt the audit Standalone as well as Consolidated Financial Statement of the Company for the financial year ended March 31, 2016 together with Reports of the Directors and the Auditors thereon


Jul-Sep 2016

14-Sep-2016


AGM Management To confirm the payment of Interim Dividend and to declare the Final Dividend on equity shares for the year 2015-16


Jul-Sep 2016

14-Sep-2016


AGM Management To appoint a Director in place of Shri A. K. Sharma (DIN: 06665266), who retires by rotation and is eligible for reappointment


Jul-Sep 2016

14-Sep-2016


AGM Management To appoint Shri B. S. Canth (DIN: 07239321) as Director (Marketing) of the Company.


Jul-Sep 2016

14-Sep-2016


AGM Management To appoint Shri Subroto Bagchi (DIN: 00145678) as Independent Director of the Company.


Jul-Sep 2016

14-Sep-2016


AGM Management To appoint Shri Sanjay Kapoor (DIN: 07348106) as Independent Director of the Company.



18



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

14-Sep-2016


AGM Management To appoint Shri Parindu K. Bhagat (DIN: 01934627) as Independent Director of the Company.


Jul-Sep 2016

14-Sep-2016


AGM Management To appoint Shri G.K. Satish (DIN: 06932170) as Director (Planning & Business Development) of the Company


Jul-Sep 2016

14-Sep-2016


AGM Management To ratify the remuneration of the Cost Auditors for the financial year ending March 31,2017


Jul-Sep 2016

14-Sep-2016


AGM Management To approve issuance of Debentures on private placement basis


Jul-Sep 2016

15-Sep-2016

Advanced Enzyme Tech

AGM Management To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2016 together with the reports of Board of Directors and the Auditors thereon.


Jul-Sep 2016

15-Sep-2016


AGM Management To confirm Interim Dividend @ Re 1/- per share (10%) paid on the fully paid-up Equity Shares of the Company for the Financial Year ended 31st March, 2016.


Jul-Sep 2016

15-Sep-2016


AGM Management To resolve not to fill vacancy for the time being in the Board, caused by retirement of Mr. Pradip Bhailal Shah (DIN: 01225582), who retires by rotation and does not seek re-appointment


Jul-Sep 2016

15-Sep-2016


AGM Management To appoint a director in place of Mr. Mukund M Kabra (DIN: 00148294), who retires by rotation and being eligible, offers himself for re-appointment


Jul-Sep 2016

15-Sep-2016


AGM Management To appoint Auditors and fix their remuneration In Favour For In line, vote in favor

Jul-Sep 2016

15-Sep-2016


AGM Management To Approve Related Party Transaction with Advanced Bio-Agro Tech Limited


Jul-Sep 2016

15-Sep-2016


AGM Management To Approve Remuneration payable to Mr. Piyush C. Rathi, Chief Business Officer of the Company


Jul-Sep 2016

15-Sep-2016


AGM Management To Approve Remuneration payable to Mr. Beni Prasad Rauka, Chief Financial Officer of the Company


Jul-Sep 2016

15-Sep-2016


AGM Management To Approve Remuneration Payable to Mr. Vasant Laxminarayan Rathi, Non-Executive Director and CEO of the US subsidiaries of the Company.


Jul-Sep 2016

15-Sep-2016


AGM Management To Approve Remuneration Payable to Prabha Rathi, Vice President of Operations of the US subsidiaries of the Company.


Jul-Sep 2016

15-Sep-2016


AGM Management To Approve Remuneration Payable to Rachana Rathi, Director of Business Development of the US subsidiaries of the Company


Jul-Sep 2016

15-Sep-2016


AGM Management To Approve Remuneration Payable to Rasika Rathi, General Counsel and Vice President of Regulatory Affairs of the US subsidiaries of the Company.


Jul-Sep 2016

15-Sep-2016


AGM Management To Approve Remuneration Payable to Reshma Rathi, Vice President of Operations of the US subsidiaries of the Company


Jul-Sep 2016

15-Sep-2016


AGM Management To Amend Employee Stock Option Scheme 2015 In Favour For In line, vote in favor

Jul-Sep 2016

15-Sep-2016


AGM Management To Approve appointment of Mrs. Rupa R Vora (DIN: 01831916) as an Independent Director of the Company


Jul-Sep 2016

19-Sep-2016

Multi Commodity Exch

AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

19-Sep-2016


AGM Management Determine the fees for delivery of any document through a particular mode of delivery to a Member


Jul-Sep 2016

19-Sep-2016


AGM Management Declaration of Dividend In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

19-Sep-2016


AGM Management "Appointment of M s Shah Gupta & Co, Chartered Accountants as Statutory Auditors"


Jul-Sep 2016

19-Sep-2016


AGM Management Re appointment of Mr Ajay Kumar as Director In Favour Against Vote against reappointment

Jul-Sep 2016

19-Sep-2016


AGM Management Appointment of Mr Chengalath as Shareholder Director



19



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

19-Sep-2016


AGM Management Appointment of Mr Mrugank Madhukar Paranjape as Additional Director


Jul-Sep 2016

19-Sep-2016


AGM Management Appointment of Mr Mrugank Madhukar Paranjape as Managing Director


Jul-Sep 2016

19-Sep-2016


AGM Management Foreign Investment in the Company up to a Maximum cap of 34% as against the prescribed sectoral cap of 49%


Jul-Sep 2016

19-Sep-2016


AGM Management Enter into various related party transactions In Favour For In line, vote in favor

Jul-Sep 2016

22-Sep-2016

Repco Home Finance

AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

22-Sep-2016

Repco Home Finance

AGM Management Declaration of Dividend In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

22-Sep-2016

Repco Home Finance

AGM Management Re appointment of Smt Sanjeevanee Kutty I A S In Favour For The person is capable and eligible, hence vote in favor

Jul-Sep 2016

22-Sep-2016

Repco Home Finance

AGM Management Appointment of Auditors In Favour For In line, vote in favor

Jul-Sep 2016

22-Sep-2016

Repco Home Finance

AGM Management "Offer or invitation to subscribe to Debentures on Private Placement basis for an amount upto Rs 2,000 Crore"

In Favour For In line with regular requirement of running business, hence vote in favor

Jul-Sep 2016

22-Sep-2016

Repco Home Finance

AGM Management Approval for RHFL ESOP Scheme 2016 In Favour For In line, vote in favor

Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Adoption of Accounts In Favour For In line, vote in favor

Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Appointment of Mr Anant Kumar Singh as Government Nominee Director


Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Appointment of Mr Ramesh Sribivasan as Director In Favour For In line, vote in favor

Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Appointment of Mr Ramamoorthy Ramachandran as Director


Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management "Payment of remuneration to Cost Auditors M s Bandopadhyay a Bhaumik & Co, Cost Accountant"


Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Confirmation of Interim Dividend and declaration of Final Dividend


Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Re appointment of Mr Shrikant Prakash Gathoo as Director


Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Appointment of Joint Auditors In Favour For In line, vote in favor

Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management "Offer, issue and allot Non Convertible Bonds and or Others Debt Securities on Private Placement Basis"

In Favour For In line with regular requirement of running business, hence vote in favor

Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Enter into contracts with other related parties In Favour For In line, vote in favor

Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Appointment of Mr Rajesh Kumar Mangal as Independent Director


Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Appointment of Mr Deepak Bhojwani as Independent Director


Jul-Sep 2016

21-Sep-2016

Bharat Petroleum AGM Management Appointment of Mr Gopal Chandra Nanda as Independent Director


Jul-Sep 2016

21-Sep-2016


AGM Management Adoption of Audited financial statements of the Company for the financial year ended March 31, 2016, together with the reports of the Board of the Directors and the Auditors thereon


Jul-Sep 2016

21-Sep-2016


AGM Management To confirm the payment of the Interim Dividend and to declare Final Dividend of Rs.15 per equity share for the financial year ended March 31, 2016

In Favour For Shareholder friendly action, vote in favor

Jul-Sep 2016

21-Sep-2016


AGM Management Re-appointment of Mr. Aditya Ghosh (DIN: 01243445) as a director, who retires by rotation and being eligible, offers himself for re-appointment


Jul-Sep 2016

21-Sep-2016


AGM Management Ratification of appointment of the B S R & Co. LLP, Chartered Accountants, (Registration No. 101248W/W-100022) as Statutory Auditors and authorising Board to fix their remuneration


Jul-Sep 2016

21-Sep-2016


AGM Management Re-appointment of Mr. Devadas Mallya Mangalore (DIN: 01804955) as a Chairman and Non-Executive Independent Director


Jul-Sep 2016

21-Sep-2016


AGM Management Re-appointment of Dr. Anupam Khanna (DIN: 03421015) as Non-Executive Independent Director



20



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

21-Sep-2016


AGM Management Alteration of Articles of Association of the Company In Favour For In line, vote in favor

Jul-Sep 2016

21-Sep-2016


AGM Management Approval for increase in borrowing limits of the Company

In Favour For In line with business plans, vote in favor

Jul-Sep 2016

24-Sep-2016

Max Financial Servic

PB Management Payment of a sum of Rs 850 crore to the members of Promoter Group of the Company by HDFC Standard Life Insurance Company Ltd on account of non compete and non solicit obligations being created pursuant to proposed Composite Scheme of Amalgamation and Arrangement amongst the Company, Max Life Insurance Company Ltd, HDFC Standard Life Insurance Company Ltd and Max India Ltd and their respective shareholders and creditors

In Favour Against Unfriendly to minority shareholders

Jul-Sep 2016

23-Sep-2016

Max India Ltd PB Management Approval of the shareholders to the Composite Scheme of Amalgamation and Arrangement ("Scheme") involving (i) amalgamation of Max Life Insurance Company Limited into and with Max Financial services Limited (the resultant entity being referred to as "MergeCo"); (ii) demerger of the undertaking pertaining to the insurance business from MergeCo and transfer of the same to HDFC Standard Life Insurance Company Limited; and (iii) amalgamation of the remaining MergeCo into and with the Company, in accordance with and on the terms and conditions as stated in the Scheme

In Favour For Vote in favor

Jul-Sep 2016

26-Sep-2016

Mahanagar Gas Limited

AGM Management To consider and adopt the audited Financial Statements of the Company for the Financial Year ended on March 31, 2016 and the Reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

26-Sep-2016


AGM Management To declare Dividend on Equity Shares. In Favour For Shareholder friendly measure, vote in favor

Jul-Sep 2016

26-Sep-2016


AGM Management To re-appoint Dr. Ashutosh Karnatak (DIN: 03267102), who retires by rotation at this meeting and being eligible, offers himself for re-appointment


Jul-Sep 2016

26-Sep-2016


AGM Management To appoint Statutory Auditors and fix their remuneration.


Jul-Sep 2016

26-Sep-2016


AGM Management To adopt new set of Articles of Association of the Company.


Jul-Sep 2016

26-Sep-2016


AGM Management To approve the remuneration of the Cost Auditor for the Financial Year ending on March 31, 2017.


Jul-Sep 2016

26-Sep-2016


AGM Management To re-appoint Mr. Santosh Kumar as an Independent Director of the Company


Jul-Sep 2016

26-Sep-2016


AGM Management To re-appoint Mr. Arun Balakrishnan as an Independent Director of the Company


Jul-Sep 2016

26-Sep-2016


AGM Management To appoint Mr. Akhil Mehrotra as Director of the Company


Jul-Sep 2016

26-Sep-2016


AGM Management To pay Commission to the Non-Executive Independent Directors


Jul-Sep 2016

26-Sep-2016


AGM Management To approve Material Related Party Transactions In Favour For In line, vote in favor

Jul-Sep 2016

27-Sep-2016

Max Financial Services Ltd

AGM Management To receive, consider and adopt the Financial Statements of the Company for the year ended March 31,2016 including audited Balance Sheet as at March 31, 2016 and the Statement of Profit & Loss and Cash Flow Statement for the year ended as at that date and the Reports of the Board of Directors and Auditors thereon.


Jul-Sep 2016

27-Sep-2016


AGM Management To receive, consider and adopt the Consolidated Financial Statements of the Company and its subsidiary for the year ended March 31, 2016 and the Reports of the Auditors thereon.


Jul-Sep 2016

27-Sep-2016


AGM Management To declare final dividend and confirm the interim dividend of Rs. 1.80/- per equity share, already paid for the year ended March 31, 2016.


Jul-Sep 2016

27-Sep-2016


AGM Management To appoint a Director in place of Mr. Ashwani Windlass (holding DIN:00042686), who retires by rotation and being eligible offers himself for re-appointment.



21



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Jul-Sep 2016

27-Sep-2016


AGM Management To appoint a Director in place of Mr. Sanjeev Kishen Mehra (holding DIN:02195545), who retires by rotation and being eligible offers himself for re-appointment.


Jul-Sep 2016

27-Sep-2016


AGM Management To consider and ratify the appointment of M/s Deloitte Haskins & Sells, LLP, Chartered Accountants, as the Statutory Auditors and to fix their remuneration.


Jul-Sep 2016

27-Sep-2016


AGM Management To consider and appoint Mrs. Naina Lal Kidwai (holding DIN: 00017806) as an Independent Director of the Company.


Jul-Sep 2016

27-Sep-2016


AGM Management To consider and appoint Mr. Sanjay Omprakash Nayar (holding DIN: 00002615) as a Director of theCompany.


Jul-Sep 2016

27-Sep-2016


AGM Management To consider and approve appointment of Mr. Mohit Talwar (holding DIN: 02394694) as Managing Director of the Company for a period of five years effective January 15, 2016 and remuneration payable to Mr. Talwar for the initial period of three years, i.e. from January 15, 2016 until January 14, 2019.


Jul-Sep 2016

27-Sep-2016


AGM Management To consider and approve entering into Trademark Sub-License Agreement and / or other ancillary agreements and documents as may be required, with Max Life Insurance Company Limited for allowing usage of trademarks.


Jul-Sep 2016

30-Sep-2016

Power Mech Projects Ltd

AGM Management To consider and adopt the Audited Financial Statements (both Standalone and Consolidated) of the Company for the year 2015-16 together with the Report of the Board of Directors and Auditors thereon


Jul-Sep 2016

30-Sep-2016


AGM Management To confirm Interim Dividend of 10% (ie) Re 1/- per share as Final Dividend for the financial year 2015-16.


Jul-Sep 2016

30-Sep-2016


AGM Management To appoint a director in place of Shri S Kishore Babu, Director who retires by rotation and being eligible offers himself for reappointment.


Jul-Sep 2016

30-Sep-2016


AGM Management Ratification of appointment of M/s. Brahmayya & Co, Chartered Accountants, Vijayawada as statutory auditors of the Company and fix their remuneration.


Jul-Sep 2016

30-Sep-2016


AGM Management To Appoint Shri M Rajiv Kumar (DIN: 07336483) as a Director


Jul-Sep 2016

30-Sep-2016


AGM Management To Appoint Shri Sutanu Behuria (DIN: 00051668) as an Independent Director


Jul-Sep 2016

30-Sep-2016


AGM Management To Appoint Shri Vivek Paranjpe (DIN: 03378566) as an Independent Director


Jul-Sep 2016

30-Sep-2016


AGM Management Reappointment of Shri S Kishore Babu (DIN: 00971313) as Managing Director


Oct-Dec 2016

3-Oct-2016


PB Management Ordinary Resolution for Issue of Bonus Shares In Favour For Shareholder friendly measure, vote in favor

Oct-Dec 2016

3-Dec-2016

Bajaj Finance PB Management Increase in Borrowing Limits for an aggregate amount not exceeding Rs 75,000 crore

In Favour For In line with normal course of business, hence vote in favor

Oct-Dec 2016

3-Dec-2016

Bajaj Finance PB Management Increase in Creation of Charge for an aggregate amount not exceeding Rs 50,000


Oct-Dec 2016

20-Dec-2016

State Bank of India

EGM Management Create, offer, issue and allot such number of Equity Shares of Rs 1 each at such price to be determined by the Board in accordance with Regulation 76(1) of SEBI ICDR Regulations, aggregating to the tune of up to Rs 5,681 Crore, on preferential basis to the Government of India

In Favour Abstain We wanted to in favor with the reason In line with normal course of business, hence vote in favor.However, the meeting date and proxy instruction deadline mentioned by vendor affiliated with CITI in the proxy report was wrong due to which our instruction was send post cut-off and got rejected by State Bank of India


22



(AGM/EGM)


or Shareholder


Management Recom-

mendation

Vote (For/

Against/ Abstain)


Oct-Dec 2016

20-Dec-2016

State Bank of India

EGM Management Create, offer, issue and allot such number of Equity Shares of Rs 1 each, not exceeding Rs 15,000 Crore and hereby authorized to take all such actions and do all such acts, deeds, matters and things as it may in its absolute discreation deem necessary, proper and desirable and to settle any question, difficulty or doubt that may arise in regard to the issue of the equity shares

In Favour Abstain We wanted to in favor with the reason In line with normal course of business, hence vote in favor.However, the meeting date and proxy instruction deadline mentioned by vendor affiliated with CITI in the proxy report was wrong due to which our instruction was send post cut-off and got rejected by State Bank of India

Oct-Dec 2016

22-Dec-2016

Repco Home Finance

PB Management Amendment of Incidental or Ancillary Objects Clause of the MOA


Jan-Mar 2017

6-Jan-2017

Hindustan Petroleum

PB Management For issue of Non Convertible Bonds Debentures In Favour For In line with normal course of business, hence vote in favor

Jan-Mar 2017

8-Mar-2017


PB Management Increase in the Authorised Share Capital and amendments to the Capital Clause of the Memorandum of Association of Housing Development Finance Corporation Limited.


Jan-Mar 2017

8-Mar-2017


PB Management Approval for issuance of equity shares under Employees Stock Option Scheme – 2017 to the employees and directors of Housing Development Finance Corporation Limited.


Jan-Mar 2017

26-Mar-2017

Infosys PB Management Revision in compensation of U B Pravin Rao Chief Operating Officer & Whole time Director


Jan-Mar 2017

26-Mar-2017

Infosys PB Management Appointment of Mr D N Prahlad as Independent Director


Jan-Mar 2017

26-Mar-2017

Infosys PB Management Adoption of new set of AOA In Favour For In line, vote in favor

Jan-Mar 2017

26-Mar-2017

Triveni Turbine PB Management Re appointment of Lt Gen Kanwal Kishan Hazari as an Independent Director


Jan-Mar 2017

26-Mar-2017

Triveni Turbine PB Management Re appointment of Mr Arun Prabhakar Mote as Whole time Director



23

TO THE BOARD OF DIRECTORS

MOTILAL OSWAL TRUSTEE COMPANY LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of Motilal Oswal MOSt Focused 25 Fund, Motilal Oswal MOSt Focused Midcap 30 Fund, Motilal Oswal MOSt Focused Multicap 35 Fund, Motilal Oswal MOSt Focused Long Term Fund and Motilal Oswal MOSt Focused Dynamic Equity Fund (the Schemes) of Motilal Oswal Mutual Fund (the Fund), which comprise of the Balance Sheet as at March 31, 2017, the Revenue Account, the Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

The Managements of Motilal Oswal Trustee Company Limited (the “trustee”) and Motilal Oswal Asset Management Company Limited (the “AMC”) are responsible for the preparation of these financial statements that give a true and fair view of the Balance Sheet, the Revenue Account and Cash Flow of the scheme, in accordance with accounting policies and standards, as specified in the Ninth Schedule of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 (the Regulations) and amendments thereto, in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing and other authoritative pronouncements issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Scheme’s preparation and fair presentation of the financial statements, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the scheme’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Regulations and give a true and fair view in conformity with the accounting principles generally accepted in India:

a) in the case of the Balance Sheet, of the state of affairs of the Scheme as at March 31, 2017; and

b) in the case of the Revenue Account, of the surplus of the Scheme for the year ended on that date.

c) in the case of the Cash Flow Statement, of the cashflows of the Scheme for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by section 55(4) of the Regulations, we report that

a) we have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purpose of our audit;

b) as required by clause 5(ii)(2) of the Eleventh Schedule to the Regulations, the Balance Sheet and the Revenue Account, referred to in this report, are in agreement with the books of account of the Scheme;

c) the financial statements have been prepared in accordance with the accounting policies and standards, as specified in the Ninth Schedule of the Regulations;

d) in our opinion, valuation methods for Non Traded Securities adopted by the scheme are fair and reasonable and are in accordance with the guidelines for valuation issued by SEBI and approved by the Trustees.

For N. M. RAIJI & CO.

Chartered Accountants

Firm Registration No: 108296W

Sd/-

Vinay D. Balse

Partner

Membership No. 39434

Place: Mumbai

Date: July 6, 2017

Independent Auditor’s Report

24

Motilal OswalMOSt Focused 25 Fund

Motilal OswalMOSt Focused Midcap 30 Fund

Schedule As at 31.03.2017 As at 31.03.2016 As at 31.03.2017 As at 31.03.2016Rs. Rs. Rs. Rs.

LIABILITIESUnit Capital 1 2,682,474,739 2,609,935,219 5,370,203,655 4,834,899,243Reserves & Surplus 2 2,267,241,558 1,178,598,034 7,678,922,295 4,344,930,723Current Liabilities and Provisions 3 62,126,708 19,218,537 24,844,610 113,219,567

5,011,843,005 3,807,751,790 13,073,970,560 9,293,049,533ASSETSInvestments 4 4,856,772,225 3,764,631,335 12,969,545,119 8,950,778,224Deposits 5 200,000 200,000 1,000,000 500,000Other Current Assets 6 154,870,780 42,920,455 103,425,441 341,771,309

5,011,843,005 3,807,751,790 13,073,970,560 9,293,049,533Notes to Accounts 8

Motilal OswalMOSt Focused

Multicap 35 Fund


Long Term Fund

Motilal Oswal MOSt Focused Dynamic

Equity FundSchedule As at

31.03.2017As at

31.03.2016As at

31.03.2017As at

31.03.2016As at 31.03.2017

Rs. Rs. Rs. Rs. Rs.LIABILITIESUnit Capital 1 26,019,236,282 19,682,486,510 2,646,397,064 1,161,884,309 5,427,190,371Reserves & Surplus 2 33,896,688,415 13,260,756,774 1,263,379,460 71,211,128 409,754,505Current Liabilities and Provisions 3 648,929,484 169,414,352 34,798,579 23,329,379 54,687,918

60,564,854,181 33,112,657,636 3,944,575,103 1,256,424,816 5,891,632,794ASSETSInvestments 4 59,641,855,672 32,913,126,437 3,558,465,794 1,192,224,815 5,042,784,814Deposits 5 10,200,000 7,600,000 2,500,000.00 - 37,600,000Other Current Assets 6 912,798,509 191,931,199 383,609,309 64,200,001 811,247,980

60,564,854,181 33,112,657,636 3,944,575,103 1,256,424,816 5,891,632,794Notes to Accounts 8The accompanying schedules are an integral part of these financials statementsAs per our attached report of even date

For N.M. Raiji & Co For Motilal Oswal Trustee Company Limited For Motilal Oswal Asset Management Company LimitedChartered AccountantsICAI Firm's Registration No: 108296W

Sd/- Sd/- Sd/- Sd/- Sd/-Vinay D. Balse Motilal Oswal Sunil Goyal Raamdeo Agarawal Aashish P SomaiyaaPartner Chairman Director Chairman Managing Director & CEOMembership No. 39434

Sd/- Sd/-Abhiroop Mukherjee Swapnil MayekarFund manger Fund managerDebt Equity

Sd/- Sd/-Siddharth Bothra Gautam Sinha RoyFund manager Fund managerEquity Equity

Date :- July 6,2017 Date :- July 6,2017 Date :- July 6,2017Mumbai Mumbai Mumbai

Balance Sheet as at March 31, 2017

25

Schedule



Year Ended 31.03.2017




Rs. Rs. Rs. Rs.INCOME & GAINSDividend 58,421,401 38,812,654 45,191,984 69,670,325Interest 7 3,633,747 4,463,853 11,066,830 11,409,208Profit on sale/redemption of investments (net)(other than inter-scheme transfer/sale) 158,717,301 207,173,193 316,557,735 292,121,452Gain on Exchange Rate Fluctuation - - - -Miscellaneous Income 2,146 2,326 155,638 127,877Net change in market value of investments 911,208,817 (496,438,743) 2,687,444,601 (526,932,117)Security Lending Fees - 989,685 - 3,286,829Profit on Derivative transactions - - - -Exchange difference-others - - - -

1,131,983,412 (244,997,033) 3,060,416,788 (150,316,426)ExPENSES & LOSSESManagement fees 78,209,684 63,934,135 192,014,916 113,850,818Service tax on management fees 11,674,576 8,986,026 28,672,999 16,092,818Transfer agents fees and expenses 2,821,599 4,808,511 9,061,343 9,000,612Custodian fees and Transaction charges 773,920 860,916 2,255,096 1,495,902Trusteeship fees 60,986 77,947 188,738 244,041Selling and Distribution expenses 11,859,967 10,853,519 32,647,490 22,190,404Audit fees 62,186 58,779 164,544 133,016Investor Education & Awareness 783,595 755,626 2,383,588 1,445,892Licence fee - - - -Other operating expenses 1,961,680 1,919,277 4,274,314 2,999,496Loss on sale/redemption of investments (net)(other than inter-scheme transfer/sale) - - - -Loss on Exchange Rate Fluctuation - - - -Net change in unrealised depreciation in value of investments - - - -Loss on Derivative transactions - - - -Exchange difference-others - - - -

108,208,193 92,254,736 271,663,028 167,452,999Reimbursement of Expenses by AMC - - - -

108,208,193 92,254,736 271,663,028 167,452,999Excess of income and gains over expenses and losses / (Excess of expenses and losses over income and gains) 1,023,775,219 (337,251,768) 2,788,753,760 (317,769,425)Transfer to unrealised appreciation reserveBalance unrealised appreciation reserve at the end of the year 991,511,981 80,303,164 3,015,816,146 328,371,545Balance unrealised appreciation reserve at the beginning of the year 80,303,164 576,741,907 328,371,545 855,303,662Net change in unrealised appreciation in value of investments transferred (to)/ from unrealised appreciation reserve 911,208,817 (496,438,743) 2,687,444,601 (526,932,117)Add/ (Less): Income Equalisation Account 101,131,641 (51,916,945) (66,427,103) 32,357,895Income available for appropriation 213,698,043 107,270,030 34,882,056 241,520,587AppropriationIncome Distributed during the year / period 16,378,946 27,498,472 25,555,243 78,308,389Tax on income distributed during the year / period - - - -Retained Surplus / (Deficit) carried forward to Balance sheet 197,319,098 79,771,558 9,326,813 163,212,198Notes to Accounts 8As per our attached report of even date

For N.M. Raiji & Co For Motilal Oswal Trustee Company Limited For Motilal Oswal Asset Management Company LimitedChartered AccountantsICAI Firm's Registration No: 108296WSd/- Sd/- Sd/- Sd/- Sd/-Vinay D. Balse Motilal Oswal Sunil Goyal Raamdeo Agarawal Aashish P SomaiyaaPartner Chairman Director Chairman Managing Director & CEOMembership No. 39434

Sd/- Sd/-Abhiroop Mukherjee Swapnil MayekarFund manger Fund managerDebt EquitySd/- Sd/-Siddharth Bothra Gautam Sinha RoyFund manager Fund managerEquity Equity


Revenue Account for the year ended March 31, 2017

26

Revenue Account for the year ended March 31, 2017 (contd...)

Schedule


Multicap 35 Fund


Long Term Fund


Equity FundYear Ended 31.03.2017




Period Ended 31.03.2017

Rs. Rs. Rs. Rs. Rs.INCOME & GAINSDividend 633,213,927 334,180,609 27,107,044 9,735,392 15,945,463Interest 7 21,113,408 9,310,797 2,111,952 1,094,414 65,802,808Profit on sale/redemption of investments (net) (other than inter-scheme transfer/sale) 2,278,202,308 717,285,753 199,823,146 - -Gain on Exchange Rate Fluctuation - - - - -Miscellaneous Income 84,476 41,121 11,709 680 30,914Net change in market value of investments 12,381,683,502 (1,706,778,591) 524,209,717 (5,819,477) 387,688,683Security Lending Fees - - - - -Profit on Derivative transactions - - 630,742 - -Exchange difference-others - 3,135,136 - - -

15,314,297,621 (642,825,175) 753,894,310 5,011,009 469,467,868ExPENSES & LOSSESManagement fees 645,916,400 351,120,591 41,599,752 15,404,002 45,314,410Service tax on management fees 96,477,499 49,665,692 6,216,998 2,177,217 6,797,162Transfer agents fees and expenses 32,294,062 30,719,964 1,515,384 929,148 2,006,499Custodian fees and Transaction charges 8,111,036 4,661,980 403,019 172,210 400,887Trusteeship fees 685,401 806,475 29,918 11,134 26,269Selling and Distribution expenses 124,804,650 69,743,810 8,989,193 3,273,180 5,682,029Audit fees 752,728 473,466 46,747 17,999 72,189Investor Education & Awareness 8,844,719 5,031,236 401,599 148,459 447,819Licence fee - - - - -Other operating expenses 12,422,018 7,561,626 2,417,104 1,417,923 1,730,418Loss on sale/redemption of investments (net) (other than inter-scheme transfer/sale) - - - 461,330 3,736,844Loss on Exchange Rate Fluctuation - 1,833,279 - - -Net change in unrealised depreciation in value of investments - - - - -Loss on Derivative transactions - - - - 16,624,651Exchange difference-others 27,094 - - - -

930,335,607 521,618,119 61,619,714 24,012,602 82,839,177Reimbursement of Expenses by AMC - - - - -

930,335,607 521,618,118 61,619,714 24,012,602 82,839,177Excess of income and gains over expenses and losses / (Excess of expenses and losses over income and gains) 14,383,962,014 (1,164,443,294) 692,274,596 (19,001,593) 386,628,691Transfer to unrealised appreciation reserveBalance unrealised appreciation reserve at the end of the year 13,232,334,928 850,651,426 534,773,775 10,564,058 387,688,683Balance unrealised appreciation reserve at the beginning of the year 850,651,426 2,557,430,017 10,564,058 16,383,535 -Net change in unrealised appreciation in value of investments transferred (to)/ from unrealised appreciation reserve 12,381,683,502 (1,706,778,591) 524,209,717 (5,819,477) 387,688,683Add/ (Less): Income Equalisation Account 438,018,779 (12,458,008) 71,623,282 (19,640,532) (25,380,383)Income available for appropriation 2,440,297,291 529,877,291 239,688,161 (32,822,648) (26,440,375)AppropriationIncome Distributed during the year / period - - 12,201,497 - -Tax on income distributed during the year / period - - - - -Retained Surplus / (Deficit) carried forward to Balance sheet 2,440,297,291 529,877,291 227,486,664 (32,822,648) (26,440,375)Notes to Accounts 8As per our attached report of even date

For N.M. Raiji & Co For Motilal Oswal Trustee Company Limited For Motilal Oswal Asset Management Company LimitedChartered AccountantsICAI Firm's Registration No: 108296WSd/- Sd/- Sd/- Sd/- Sd/-Vinay D. Balse Motilal Oswal Sunil Goyal Raamdeo Agarawal Aashish P SomaiyaaPartner Chairman Director Chairman Managing Director & CEOMembership No. 39434

Sd/- Sd/-Abhiroop Mukherjee Swapnil MayekarFund manger Fund managerDebt EquitySd/- Sd/-Siddharth Bothra Gautam Sinha RoyFund manager Fund managerEquity Equity


27

SCHEDULE - 1UNIT CAPITAL

Motilal Oswal MOSt Focused 25 FundAs at 31.03.2017 As at 31.03.2016

Units Rs Units RsInitial capital issued and subscribed:Units of Rs. 10 each fully paid up 81,803,717.406 818,037,174 81,803,717.406 818,037,174Outstanding:Opening Balance 260,993,521.920 2,609,935,219 169,690,208.90 1,696,902,088.96New Fund / Plan Offer - - - -Capital issued during the year / period at face value 10 125,707,109.462 1,257,071,095 210,023,025.247 2,100,230,252Capital issued during the year / period at face value 7 post split - - - -

386,700,631.382 3,867,006,314 379,713,234.143 3,797,132,341Redemptions during the year / period at face value 10 118,453,157.514 1,184,531,575 118,719,712.223 1,187,197,122Redemptions during the year / period at face value 7 post split - - - -Unit Capital at the end of the year / period 268,247,473.868 2,682,474,739 260,993,521.920 2,609,935,219Growth Plan 185,835,421.981 1,858,354,220 168,225,174.614 1,682,251,746Dividend Plan 29,250,755.256 292,507,553 25,600,533.026 256,005,330Direct Dividend Plan 3,844,985.213 38,449,852 6,998,387.685 69,983,876.85Direct Growth Plan 49,316,311.418 493,163,114 60,169,426.595 601,694,265.95Monthly Dividend Plan - - - -Fortnightly Dividend Plan - - - -Daily Dividend Plan - - - -Weekly Dividend Plan - - - -Direct Daily Dividend Plan - - - -Direct Fortnightly Dividend Plan - - - -Quarterly Dividend Plan - - - -Direct Weekly Dividend Plan - - - -Direct Monthly Dividend Plan - - - -Direct Quarterly Dividend Plan - - - -Annual Dividend Plan - - - -Direct Annual Dividend Plan - - - -Unit Capital at the end of the year / period 268,247,473.868 2,682,474,739 260,993,521.920 2,609,935,219

Motilal Oswal MOSt Focused Midcap 30 FundAs at 31.03.2017 As at 31.03.2016

Units Rs Units RsInitial capital issued and subscribed:Units of Rs. 10 each fully paid up 36,137,393.863 361,373,939 36,137,393.863 361,373,939Outstanding:Opening Balance 483,489,924.292 4,834,899,243 209,646,120.23 2,096,461,202.31New Fund / Plan Offer - - - -Capital issued during the year / period at face value 10 199,620,817.523 1,996,208,175 363,172,720.71 3,631,727,207.08Capital issued during the year / period at face value 7 post split - - - -

683,110,741.815 6,831,107,418 572,818,840.939 5,728,188,409Redemptions during the year / period at face value 10 146,090,376.321 1,460,903,763 89,328,916.647 893,289,167Redemptions during the year / period at face value 7 post split - - - -Unit Capital at the end of the year / period 537,020,365.494 5,370,203,655 483,489,924.292 4,834,899,243Growth Plan 280,675,174.814 2,806,751,748 243,712,544.979 2,437,125,450Dividend Plan 49,706,393.206 497,063,932 49,422,067.354 494,220,674Direct Dividend Plan 4,161,449.964 41,614,500 19,649,151.750 196,491,517.50Direct Growth Plan 202,477,347.510 2,024,773,475 170,706,160.209 1,707,061,602.09Monthly Dividend Plan - - - -Fortnightly Dividend Plan - - - -Daily Dividend Plan - - - -Weekly Dividend Plan - - - -Direct Daily Dividend Plan - - - -Direct Fortnightly Dividend Plan - - - -Quarterly Dividend Plan - - - -Direct Weekly Dividend Plan - - - -Direct Monthly Dividend Plan - - - -Direct Quarterly Dividend Plan - - - -Annual Dividend Plan - - - -Direct Annual Dividend Plan - - - -Unit Capital at the end of the year / period 537,020,365.494 5,370,203,655 483,489,924.292 4,834,899,243

Schedules forming part of the Balance Sheet as at March 31, 2017 and the Revenue Account for the year ended March 31, 2017

28

SCHEDULE - 1UNIT CAPITAL

Motilal Oswal MOSt Focused Multicap 35 FundAs at 31.03.2017 As at 31.03.2016

Units Rs Units RsInitial capital issued and subscribed:Units of Rs. 10 each fully paid up 63,843,383.263 638,433,833 63,843,383.263 638,433,833Outstanding:Opening Balance 1,968,248,651.006 19,682,486,510 811,712,526.01 8,117,125,260.09New Fund / Plan Offer - - - -Capital issued during the year / period at face value 10 1,059,751,384.358 10,597,513,844 1,380,012,484.70 13,800,124,847.02Capital issued during the year / period at face value 7 post split - - - -

3,028,000,035.364 30,280,000,354 2,191,725,010.711 21,917,250,107Redemptions during the year / period at face value 10 426,076,407.201 4,260,764,072 223,476,359.705 2,234,763,597Redemptions during the year / period at face value 7 post split - - - -Unit Capital at the end of the year / period 2,601,923,628.163 26,019,236,282 1,968,248,651.006 19,682,486,510Growth Plan 1,288,100,999.973 12,881,010,000 931,563,132.430 9,315,631,324Dividend Plan 303,561,451.328 3,035,614,513 211,826,271.463 2,118,262,715Direct Dividend Plan 121,068,300.183 1,210,683,002 173,433,340.528 1,734,333,405Direct Growth Plan 889,192,876.679 8,891,928,767 651,425,906.585 6,514,259,066Monthly Dividend Plan - - - -Fortnightly Dividend Plan - - - -Daily Dividend Plan - - - -Weekly Dividend Plan - - - -Direct Daily Dividend Plan - - - -Direct Fortnightly Dividend Plan - - - -Quarterly Dividend Plan - - - -Direct Weekly Dividend Plan - - - -Direct Monthly Dividend Plan - - - -Direct Quarterly Dividend Plan - - - -Annual Dividend Plan - - - -Direct Annual Dividend Plan - - - -Unit Capital at the end of the year / period 2,601,923,628.163 26,019,236,282 1,968,248,651.006 19,682,486,510

Motilal Oswal MOSt Focused Long Term FundAs at 31.03.2017 As at 31.03.2016

Units Rs Units RsInitial capital issued and subscribed:Units of Rs. 10 each fully paid up 19,717,205.000 197,172,050 19,717,205.000 197,172,050Outstanding:Opening Balance 116,188,430.920 1,161,884,309 33,637,082.28 336,370,822.79New Fund / Plan Offer - - - -Capital issued during the year / period at face value 10 148,451,275.442 1,484,512,754 82,551,348.64 825,513,486.41Capital issued during the year / period at face value 7 post split - - - -

264,639,706.362 2,646,397,064 116,188,430.920 1,161,884,309Redemptions during the year / period at face value 10 - - - -Redemptions during the year / period at face value 7 post split - - - -Unit Capital at the end of the year / period 264,639,706.362 2,646,397,064 116,188,430.920 1,161,884,309Growth Plan 220,236,562.305 2,202,365,623 95,352,884.478 953,528,845Dividend Plan 24,231,578.197 242,315,782 14,930,149.379 149,301,494Direct Dividend Plan 2,020,074.400 20,200,744 787,243.008 7,872,430Direct Growth Plan 18,151,491.460 181,514,915 5,118,154.055 51,181,541Monthly Dividend Plan - - - -Fortnightly Dividend Plan - - - -Daily Dividend Plan - - - -Weekly Dividend Plan - - - -Direct Daily Dividend Plan - - - -Direct Fortnightly Dividend Plan - - - -Quarterly Dividend Plan - - - -Direct Weekly Dividend Plan - - - -Direct Monthly Dividend Plan - - - -Direct Quarterly Dividend Plan - - - -Annual Dividend Plan - - - -Direct Annual Dividend Plan - - - -Unit Capital at the end of the year / period 264,639,706.362 2,646,397,064 116,188,430.920 1,161,884,309


29

SCHEDULE - 1UNIT CAPITAL (contd...)

Motilal Oswal MOSt Focused Dynamic Equity FundAs at 31.03.2017

Units RsInitial capital issued and subscribed:Units of Rs. 10 each fully paid up 19,717,205.000 197,172,050Outstanding:Opening Balance - -New Fund / Plan Offer 329,593,054.817 3,295,930,548Capital issued during the year / period at face value 10 252,118,158.02 2,521,181,580Capital issued during the year / period at face value 7 post split - -

581,711,212.840 5,817,112,128Redemptions during the year / period at face value 10 38,992,175.710 389,921,757.100Redemptions during the year / period at face value 7 post split - -Unit Capital at the end of the year / period 542,719,037.130 5,427,190,371Growth Plan 463,630,404.642 4,636,304,046Dividend Plan - -Direct Dividend Plan - -Direct Growth Plan 25,966,634.622 259,666,346Monthly Dividend Plan - -Fortnightly Dividend Plan - -Daily Dividend Plan - -Weekly Dividend Plan - -Direct Daily Dividend Plan - -Direct Fortnightly Dividend Plan - -Quarterly Dividend Plan 17,612,813.099 176,128,131Direct Weekly Dividend Plan - -Direct Monthly Dividend Plan - -Direct Quarterly Dividend Plan 1,985,789.844 19,857,898Annual Dividend Plan 31,074,210.604 310,742,106Direct Annual Dividend Plan 2,449,184.319 24,491,843Unit Capital at the end of the year / period 542,719,037.130 5,427,190,371

SCHEDULE - 2RESERVES AND SURPLUS



As at 31.03.2017

As at 31.03.2016

As at 31.03.2017

As at 31.03.2016

Rs Rs Rs RsUnit Premium ReserveOpening balance 817,035,785 227,474,633 3,875,778,395 1,133,948,541Addition/Deletion during the year (19,884,391) 589,561,152 637,220,158 2,741,829,854

Closing balance 797,151,394 817,035,785 4,512,998,553 3,875,778,395Retained SurplusOpening balance 281,259,085 201,487,527.00 140,780,783 (22,431,416)Add: Surplus transferred from / (to) Revenue Account 197,319,098 79,771,558 9,326,813 163,212,198Closing balance 478,578,183 281,259,085 150,107,597 140,780,783Unrealised Appreciation on InvestmentsOpening balance 80,303,164 576,741,907.00 328,371,545 855,303,662Less: Reversed during the year (80,303,164) (576,741,907.00) (328,371,545) (855,303,662)Add: Unrealised appreciation as at year ended 991,511,981 80,303,163.54 3,015,816,146 328,371,545Closing balance 991,511,981 80,303,163.54 3,015,816,146 328,371,545Total Reserves and Surplus 2,267,241,558 1,178,598,034 7,678,922,295 4,344,930,723


30

SCHEDULE - 2RESERVES AND SURPLUS

Motilal Oswal MOSt Focused Multicap 35 Fund

Motilal Oswal MOSt Focused Long Term Fund


Equity FundAs at

31.03.2017As at

31.03.2016As at

31.03.2017As at

31.03.2016As at 31.03.2017

Rs Rs Rs Rs RsUnit Premium ReserveOpening balance 11,846,589,301 3,198,237,263 94,650,743 8,554,071 -Addition/Deletion during the year 5,813,950,848 8,648,352,038 440,471,950 86,096,672 48,506,197

Closing balance 17,660,540,149 11,846,589,301 535,122,693 94,650,743 48,506,197Retained SurplusOpening balance 563,516,047 33,638,756.00 (34,003,673) (1,181,025) -Add: Surplus transferred from / (to) Revenue Account 2,440,297,291 529,877,291 227,486,664 (32,822,648) (26,440,375)Closing balance 3,003,813,338 563,516,047 193,482,991 (34,003,673) (26,440,375)Unrealised Appreciation on InvestmentsOpening balance 850,651,426 2,557,430,017.00 10,564,058 16,383,535 -Less: Reversed during the year (850,651,426) (2,557,430,017.00) (10,564,058) (16,383,535) -Add: Unrealised appreciation as at year ended 13,232,334,928 850,651,426 534,773,775 10,564,058 387,688,683Closing balance 13,232,334,928 850,651,426 534,773,775 10,564,058 387,688,683Total Reserves and Surplus 33,896,688,415 13,260,756,774 1,263,379,460 71,211,128 409,754,505

SCHEDULE - 3CURRENT LIABILITIES & PROVISIONS

Motilal Oswal MOSt Focused 25 Fund Motilal Oswal MOSt Focused Midcap 30 FundAs at 31.03.2017 As at 31.03.2016 As at 31.03.2017 As at 31.03.2016

Rs Rs Rs RsSundry creditors 2,912,899 12,537,221 6,998,919 27,977,015Payable for units repurchased / switch out 6,474,586 5,634,401 15,761,218 16,372,192Units Pending Allotment - 1,010,000 - 1,031,500Distributed income payable - - - -Unclaimed redemptions / distributed income (Note 16) 106,141 - 138,135 44,088Payables for Purchase of investments 51,750,119 - - 67,707,831Other liabilities 882,963 36,916 1,946,338 86,941

62,126,708 19,218,538 24,844,610 113,219,567




Equity FundAs at

31.03.2017As at

31.03.2016As at

31.03.2017As at

31.03.2016As at 31.03.2017

Rs Rs Rs Rs RsSundry creditors 23,994,042 86,644,259 2,537,940 3,383,781 3,501,167Payable for units repurchased / switch out 163,823,063 48,787,239 1,493,500 - 20,357,725Units Pending Allotment - 4,018,000 - 362,500 -Distributed income payable - - 734 - -Unclaimed redemptions / distributed income (Note 16) 6,750 - 322,226 - -Payables for Purchase of investments 454,198,155 29,709,755 29,872,795 19,562,268 29,873,914Other liabilities 6,907,474 255,099 571,384 20,830 955,112

648,929,484 169,414,352 34,798,579 23,329,379 54,687,918


31

SCHEDULE - 4INVESTMENTS (Refer Note 3 to Notes to Accounts)

Motilal Oswal MOSt Focused 25 FundAs at 31.03.2017 As at 31.03.2016

Rs Rs Rs RsCost Market/

Fair valueCost Market/

Fair valueEquity Shares Listed or awaiting listing 3,865,260,244 4,856,772,225 3,684,328,172 3,764,631,335Bonds & Debentures - - - -Commercial Papers (CP) - - - -Certificate of Deposits (CD) - - - -

3,865,260,244 4,856,772,225 3,684,328,172 3,764,631,335

Motilal Oswal MOSt Focused Midcap 30 FundAs at 31.03.2017 As at 31.03.2016




9,953,728,972 12,969,545,119 8,622,406,679 8,950,778,224

Motilal Oswal MOSt Focused Multicap 35 FundAs at 31.03.2017 As at 31.03.2016




46,409,520,744 59,641,855,672 32,062,475,011 32,913,126,437

Motilal Oswal MOSt Focused Long Term FundAs at 31.03.2017 As at 31.03.2016




3,023,692,019 3,558,465,794 1,181,660,757 1,192,224,815


Rs RsCost Market/ Fair value

Equity Shares Listed or awaiting listing 3,134,695,857 3,530,872,414Bonds & Debentures 1,517,648,200 1,511,912,400Commercial Papers (CP) - -Certificate of Deposits (CD) - -

4,652,344,057 5,042,784,814


32

SCHEDULE - 5DEPOSITS

Motilal Oswal MOSt Focused 25 Fund


As at 31.03.2017

As at 31.03.2016

As at 31.03.2017

As at 31.03.2016

Rs Rs Rs RsMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueFixed Deposits with Scheduled Banks (*towards deposit for derivative margin) - - - -Margin money with The Clearing Corporation of India Ltd. (CCIL) 200,000 200,000 1,000,000 500,000

200,000 200,000 1,000,000 500,000

Motilal OswalMOSt Focused Multicap 35 Fund

Motilal OswalMOSt Focused Long Term Fund

As at 31.03.2017

As at 31.03.2016

As at 31.03.2017

As at 31.03.2016

Rs Rs Rs RsMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueFixed Deposits with Scheduled Banks (*towards deposit for derivative margin) - - - -Margin money with The Clearing Corporation of India Ltd. (CCIL) 10,200,000 7,600,000 2,500,000 -

10,200,000 7,600,000 2,500,000.00 -


RsMarket/ Fair value

Fixed Deposits with Scheduled Banks (*towards deposit for derivative margin) 31,000,000Margin money with The Clearing Corporation of India Ltd. (CCIL) 6,600,000

37,600,000.00

SCHEDULE - 6OTHER CURRENT ASSETS



As at 31.03.2017

As at 31.03.2016

As at 31.03.2017

As at 31.03.2016

Rs Rs Rs RsMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueBalances with banks in current account 38,111,915 13,767,052 45,623,653 84,896,978Receivable for units subscribed 2,316,381 1,784,487 5,977,142 4,263,289Receivables for sale of investments 64,456,859 - - 6,914,327Collateralised Borrowing and Lending Obligations (CBLO)and Reverse Repo 49,978,434 26,279,265 49,978,434 241,109,755Margin money & Market-to-Market for equity derivatives - - - -Outstanding and accrued income 7,191 1,038,988 1,846,213 4,557,625Other receivable - 50,663 - 29,335

154,870,780 42,920,455 103,425,441 341,771,309




Equity FundAs at

31.03.2017As at

31.03.2016As at

31.03.2017As at

31.03.2016As at 31.03.2017

Rs Rs Rs Rs RsMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueBalances with banks in current account 707,276,083 106,282,964 172,036,994 22,956,060 380,200,393Receivable for units subscribed 45,558,875 16,789,760 95,438,500 20,319,500 14,144,065Receivables for sale of investments - - - - -Collateralised Borrowing and Lending Obligations (CBLO)and Reverse Repo

159,930,989 65,248,516 101,456,221 20,783,321 349,834,667

Margin money & Market-to-Market for equity derivatives

- - 14,663,000 - 7,018,145

Outstanding and accrued income 23,004 3,580,651 14,594 141,120 60,050,710Other receivable 9,558 29,308 - - -

912,798,509 191,931,199 383,609,309 64,200,001 811,247,980


33

SCHEDULES - 9UNIT PREMIUM DISCOUNT



As at 31.03.2017

As at 31.03.2016

As at 31.03.2017

As at 31.03.2016

Rs Rs Rs RsMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueOpening balance - - - -Net premium on issue /redemption of units during the year / period - - - -Transfer from / (to) Income Equalisation Account - - - -Closing balance - - - -



Motilal Oswal MOSt Focused

Dynamic Equity Fund

As at 31.03.2017

As at 31.03.2016

As at 31.03.2017

As at 31.03.2016

As at 31.03.2017

Rs Rs Rs Rs RsMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueMarket/

Fair valueOpening balance - - - - -Net premium on issue /redemption of units during the year / period

- - - - -

Transfer from / (to) Income Equalisation Account - - - - -Closing balance - - - - -

SCHEDULES FORMING PART OF REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2017

SCHEDULE - 7Motilal Oswal MOSt Focused 25 Fund Motilal Oswal MOSt Focused Midcap 30 Fund

INTEREST Year Ended 31.03.2017




Rs. Rs. Rs. Rs.Reverse Repo / CBLO 3,583,877 4,463,853 11,066,830 11,409,208Securities and fixed deposits 49,870 - - -

3,633,747 4,463,853 11,066,830 11,409,208



Motilal Oswal MOSt Focused Dynamic Equity Fund

INTEREST Year Ended 31.03.2017




Period Ended 31.03.2017

Rs. Rs. Rs. Rs. Rs.Reverse Repo / CBLO 20,164,042 9,310,797 2,111,952 1,094,414 15,005,477Securities and fixed deposits 949,366 - - - 50,797,331

21,113,408 9,310,797 2,111,952 1,094,414 65,802,808


34

1 Organisation In conformity with Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 (the Regulations), Motilal Oswal Asset Management Company Limited

has been set up to act as the Asset Management Company (AMC) to Motilal Oswal Mutual Fund (Fund). Motilal Oswal Asset Management Company Limited (MOAMC) has been appointed as the Investment Manager to Motilal Oswal Mutual Fund (MOMF) by the Trustee vide Investment Management Agreement (IMA) dated May 21, 2009, executed between Motilal Oswal Trustee Company Limited(MOTC) and Motilal Oswal Asset Management Company Limited.

Motilal Oswal Securities Limited is the sponsor of Motilal Oswal Mutual FundScheme Name Date of

LaunchNFO period Date of

AllotmentType of Scheme

Investment Objective

Motilal Oswal MOSt Focused 25 Fund(MOSt Focused 25)

April 22, 2013

April 22, 2013 -May 06, 2013

May 13, 2013

An open ended equity scheme

The investment objective of the Scheme is to achieve long term capital appreciation by investing in upto 25 companies with long term sustainable competitive advantage and growth potential. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Motilal Oswal MOSt Focused Midcap 30 Fund (MOSt Focused Midcap 30)

February 3, 2014

February 3, 2014 –February 17, 2014

February 24, 2014


The investment objective of the Scheme is to achieve long term capital appreciation by investing in a maximum of 30 quality midcap companies having long-term competitive advantages and potential for growth. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Motilal Oswal MOSt Focused Multicap 35 Fund (MOSt Focused Multicap 35)

April 7,2014

April 7, 2014 –April 17, 2014

April 28, 2014

An open ended diversified equity scheme

The investment objective of the Scheme is to achieve long term capital appreciation by primarily investing in a maximum of 35 equity & equity related instruments across sectors and market capitalization levels. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Motilal Oswal MOSt Focused Long Term Fund (MOSt Focused Long Term)

December 26, 2014

December 26, 2014 –January 15, 2015

January 21, 2015

An open ended equity linked saving Scheme with a 3 year lock-in

The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Motilal Oswal MOSt Focused Dynamic Equity Fund (MOSt Focused Dynamic Equity)

September 6, 2016

September 6, 2016–September 20, 2016

September 27,2016


The investment objective is to generate long term capital appreciation by investing in equity and equity related instruments including equity derivatives as well as debt instruments. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved..

Presentation of the balance sheets and Revenue accounts in a columnar form is not intended to indicate that they bear any relation to each other, or are interdependent or comparable in any way.

2. Significant Accounting Policies2.1 Basis of Accounting The financial statements are prepared on the accrual basis of accounting, under the historical cost convention, as modified for investments, which are ‘marked

to market’. The financial statements have been prepared in accordance with the Regulations, as amended from time to time. As per the Securities and Exchange Board of India (SEBI) (Mutual Funds) (Amendment) Regulations, 2012, issued on February 21, 2012, the Eighth Schedule

to the regulations was amended to include “Principles of Fair Valuation”, which required the mutual funds to value their investments in accordance with the specified overarching principles, so as to ensure fair treatment to all investors, including existing investors, as well as investors seeking to purchase or redeem units of the mutual fund in all schemes at all points of time.

2.2 Determination of net asset value (‘NAV’)a) The net asset value of the units of the scheme is determined separately for the units issued under the plans.b) For reporting the multiple net asset values within the portfolio, the scheme’s daily income earned, including realized profit or loss and unrealized gain

or loss in the value of investments, and expenses incurred, are allocated to the related plans in proportion to their respective net assets (net assets of previous day plus subscription less redemption for the day) of the plan.

2.3 Unit Capital Unit Capital represents the net outstanding units as at the Balance Sheet date. Upon subscription and redemption of units, the net premium or discount to the face value of units is credited or debited respectively to the Unit Premium

Reserve account, after adjusting an appropriate portion of the sale / repurchase price to the Income Equalisation account.2.4 Income Equalisation account When units are issued or redeemed, the total undistributed income from the beginning of the accounting year to the date of the transaction is determined.

Based on the number of units outstanding on the transaction date, the undistributed income associated with each unit is computed. The per unit amount so determined is credited and debited to the Income Equalisation account on issue and redemption of each unit respectively.

At the year end, the balance in the Income Equalisation account is transferred to the Revenue Account.2.5 Investments

a) Accounting for investment transactions Purchase and sale of investments are recorded on the date of the transaction, at the cost and sale price respectively, after considering brokerage as per

the applicable Mutual Fund Guidelines, commission, securities transaction tax and fees payable or receivable, if any. Capitalization of such brokerage and transaction costs incurred for the purpose of execution of trades is restricted to 12 bps in case of cash market transactions and 5 bps in case of derivative transactions. Any cost in excess of the specified limit is charged to the Revenue Account of the scheme, as part of the total expense ratio. Front end fee receivable, if any, is reduced from the cost of investment. Bonus entitlements are recognised as investments on the ‘ex-bonus date’. Rights entitlements are recognised as investments on the ‘ex-rights date’. Other Corporate Action entitlements are recognised on the ex date.

Repo Instruments bought on ‘Repo’ basis are valued at the resale price after deduction of applicable interest up to the date of resale.


SCHEDULE - 8NOTES TO ACCOUNTS of Motilal Oswal MOSt Focused 25 Fund, Motilal Oswal MOSt Focused Midcap 30 Fund, Motilal Oswal MOSt Focused Multicap 35 Fund, Motilal Oswal MOSt Focused Long Term Fund and Motilal Oswal MOSt Focused Dynamic Equity Fund

35

b) Valuation of Investments The Fund has valued its investments in accordance with the Regulations, as amended from time to time. All investments are marked to market and are

stated in the balance sheet at their market / fair value. In valuing the Scheme’s investments:I. Valuation of Traded Securities Traded Equity and Equity related securities are valued at the last quoted closing price on the principal stock exchange, i.e. National Stock Exchange (NSE).II. Valuation of Thinly Traded Securities/ Non-traded and Unlisted Securities Thinly Traded securities are valued “in good faith” on the basis of net worth per share and earnings capitalization as prescribed by the SEBI. Investments in fixed income securities (other than government securities) are valued as follows: All debt securities with residual maturity upto 60 days are valued based on yield to maturity derived from trades done by schemes managed by the

AMC. If there are no trades done by schemes managed by the AMC for the said security then the securities are valued on the basis of amortized cost based on the purchase price or last traded market price, which includes discount / premium accrued on a straight line basis over the period to maturity as long as the valuation is within a ±0.10% band of the price derived as per the reference yields provided by the Rating Agencies (CRISIL & ICRA). In case the amortized value is outside the above band, the YTM of the security is adjusted to bring the price within the ±0.10% band.

All debt securities with residual maturity greater than 60 days are valued using the simple average of the prices released by CRISIL AND ICRA, as suggested by AMFI. In the case of new purchases which are not a part of the list of CRISIL and ICRA security level pricing, such securities are valued at the weighted average cost/yield on the day of purchase.

The net unrealized appreciation / depreciation in the value of investments are determined separately for each category of investments. The change in net unrealized loss, if any, between two balance sheet dates is recognized in the revenue account and net unrealized gain, if any, is adjusted in the unrealized appreciation reserve.

All investments are stated at their market / fair value at the balance sheet date.III. Valuation of Units of Mutual Funds Mutual fund units listed and traded are valued at the closing traded price as on the valuation date. Unlisted mutual fund units and listed-but-not-traded

mutual fund units are valued at the NAV as on the valuation date. All other investments are stated at their fair value as determined in good faith by the AMC in accordance with the SEBI Regulations and reviewed by

the Trustee. Change, if any, in the market value of investments between the two balance sheet dates is recognised in the revenue account and the change, if any,

in unrealized appreciation is subsequently transferred to the unrealized appreciation reserve. Loss on investments sold/transferred during the year is charged to the revenue account.

IV. Valuation of Equity / Index Futures Derivatives Traded future securities are valued at the closing future price on the principal stock exchange, i.e. NSE. Non-traded future securities are valued at

the settlement prices. All other investments are stated at their fair value, as determined in good faith by the AMC, in accordance with the SEBI Regulations and reviewed

by the Trustee.2.6 Revenue recognition

• Income on investments is recognized on accrual basis except where there is uncertainty about the ultimate recovery / realisation. Such income is recognized when the uncertainty is resolved. When coupon bearing instruments are purchased, interest paid for the period from the last interest payment date, up to the date of purchase, is debited to Accrued Interest Account and interest received at the time of sale for the period from the last interest payment date, up to the date of sale, is credited to the Accrued Interest Account.

• Interest on fixed income securities is recognised as income on a daily basis over the period of holding.• Profit or loss on sale of investments is recognized on the trade date and is determined on the basis of the weighted average cost method.• For quoted shares, the dividend income earned by a scheme is recognized on the date the share is quoted on an ex-dividend basis.• Discount or premium, if any, on the redemption value of debt securities is amortized and recognised as interest income or expense, as the case may be,

over the maturity period, on a straight line amortization basis.2.7 Expenses

• All expenses are accounted for on accrual basis.• In the case of new schemes launched during the year the NFO expenses are borne by the AMC.• Distribution expense incurred, in addition to TER, for distribution expenses incurred for bringing in inflows from beyond top 15 cities, as notified by Association

of Mutual Funds of India (AMFI), are recognized in accordance with regulation 52(6A) for MOSt Focused 25, MOSt Focused Midcap 30, MOSt Focused Multicap 35, MOSt Focused Long Term and MOSt Focused Dynamic Equity.

2.8 Dividend Distribution Income distribution is done from the distributable surplus of year’s / period’s earnings and accumulated reserves of earlier years.2.9 Entry Load/Exit Load In terms of regulation 51A of the Securities & Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2012, exit load charged, if any, from

1 October 2012, is credited to the scheme. In terms of SEBI circular No. CIR/IMD/DF/21/2012, dated September 13, 2012, with effect from 1 October 2012, service tax on exit load, if any, is paid out of the exit load proceeds and exit load net of service tax, if any, is credited to the scheme.

2.10 Cash and cash equivalents Cash and cash equivalents include balances with banks in current accounts, deposits placed with scheduled banks (with an original maturity of up to three

months) and collateralized lending (including reverse repurchase transactions).3 Investments

a. Investments of the Schemes are registered in the name of the Trustees for the benefit of the Scheme Unit holders.b. Investments made in companies which have invested more than five percent of the net asset value of the Schemes of Motilal Oswal Mutual Fund

in terms of Regulation 25 (11)• Investment in Companies includes investment in subsidiaries.• Purchases represents purchases (including derivatives transactions and inter scheme transactions) made during the period prescribed under regulation 25(11).• Value represents closing market value of investments as of March 31, 2017.


SCHEDULE - 8NOTES TO ACCOUNTS of Motilal Oswal MOSt Focused 25 Fund, Motilal Oswal MOSt Focused Midcap 30 Fund, Motilal Oswal MOSt Focused Multicap 35 Fund, Motilal Oswal MOSt Focused Long Term Fund and Motilal Oswal MOSt Focused Dynamic Equity Fund (contd...)

36

Current Year 2016-2017: NILPrevious Year 2015-2016: NIL

c. Unrealized Gain / (Loss) as of March 31, 2017:

Scheme NameInvestments (March 31, 2017) Investments (March 31, 2016)

Listed or awaiting listing

Private placement / unlisted

Listed or awaiting listing

Private placement / unlisted

Motilal Oswal MOSt Focused 25 Fund 991,511,981 - 80,303,164 -Motilal Oswal MOSt Focused Midcap 30 Fund 3,015,816,146 - 328,371,545 -Motilal Oswal MOSt Focused Multicap 35 Fund 13,232,334,928 - 850,651,426 -Motilal Oswal MOSt Focused Long Term Fund 534,773,775 - 10,564,058 -Motilal Oswal MOSt Focused Dynamic Equity Fund 387,688,683 - - -

4 Investment Management and Trusteeship feesa) Investment management fees (excluding service tax and education cess) have been charged by the Schemes pursuant to an agreement with Motilal Oswal

Asset Management Company Limited (MOAMC), as under:

Scheme NameMarch 31, 2017 March 31, 2016

Amount in Rs. Percentage Amount in Rs. PercentageMotilal Oswal MOSt Focused 25 Fund 78,209,684 2.00% 63,934,135 1.69%Motilal Oswal MOSt Focused Midcap 30 Fund 192,014,916 1.61% 113,850,818 1.58%Motilal Oswal MOSt Focused Multicap 35 Fund 645,916,400 1.46% 351,120,591 1.40%Motilal Oswal MOSt Focused Long Term Fund 41,599,752 2.07% 15,404,002 2.08%Motilal Oswal MOSt Focused Dynamic Equity Fund 45,314,410 * 2.03% Nil Nil

*Annualised Rateb) Trusteeship Fees (including service tax and education cess) have been charged by the Schemes pursuant to an agreement with Motilal Oswal Trustees Limited,

as under:

Scheme NameMarch 31, 2017 March 31, 2016

Amount in Rs. Percentage Amount in Rs. PercentageMotilal Oswal MOSt Focused 25 Fund 60,986 0.002% 77,947 0.002%Motilal Oswal MOSt Focused Midcap 30 Fund 188,738 0.002% 244,041 0.003%Motilal Oswal MOSt Focused Multicap 35 Fund 685,400 0.002% 806,475 0.003%Motilal Oswal MOSt Focused Long Term Fund 29,918 0.001% 11,134 0.002%Motilal Oswal MOSt Focused Dynamic Equity Fund 26,269 0.001% Nil Nil

Note: Rate represents average rate in percentage per annum charged on daily average net assets5 Details of Transactions with Associates in terms of Regulation 25(8):

Name of Sponsor Motilal Oswal Securities LimitedName of Associate Motilal Oswal Wealth Management Ltd.

5.1 Securities transaction in the form of investments/disinvestment in various Public issues / Private placements where the associate was the sole or one of the several lead managers –Scheme Name Security Name 2016-2017 2015-2016Motilal Oswal MOSt Focused Midcap 30 Fund Manpasand Beverages 13,483,125 NilMotilal Oswal MOSt Focused Multicap 35 Fund Manpasand Beverages 254,681,250 NilMotilal Oswal MOSt Focused Dynamic Equity Fund Manpasand Beverages 31,460,625 NilMotilal Oswal MOSt Focused 25 Fund Avenue Supermarts Limited 9,299,498 NilMotilal Oswal MOSt Focused Multicap 35 Fund Avenue Supermarts Limited 99,567,000 NilMotilal Oswal MOSt Focused Long Term Fund Avenue Supermarts Limited 5,501,600 NilMotilal Oswal MOSt Focused Dynamic Equity Fund Avenue Supermarts Limited 6,099,600 Nil

5.2 Payment of Brokerage for Secondary Market Transactions: Current Year 2016 – 2017:

Name of associate /related parties/ group companies of Sponsor/ AMC

Nature of Association/

Nature of relationPeriod covered

Value of transaction(in Rs. Crores & % of total value of

transaction of the Fund)

Brokerage(Rs. Crores & % of total brokerage

paid by the Fund)Rs. % Rs. %

Motilal Oswal Securities Ltd. Sponsor 01-Apr-2016 to 31-Mar-2017 429.91 4.21% 0.51 6.02%

Previous Year 2015 – 2016:


Nature of Association/

Nature of relationPeriod covered

Value of transaction(in Rs. Crores & % of total value of

transaction of the Fund)

Brokerage(Rs. Crores & % of total brokerage

paid by the Fund)Rs. % Rs. %

Motilal Oswal Securities Ltd. Sponsor 01-Apr-2015 to 31-Mar-2016 303.99 4.67% 0.31 6.63%



37

5.3 Payment of Commission for Distribution and Sale of Units: Current Year 2016 – 2017:


Nature of Association/ Nature of relation Period covered

Commission paid (Rs. in Crores ) &% of total Commission paid

Rs. %Motilal Oswal Securities Ltd. Sponsor 01-Apr-2016 to 31-Mar-2017 5.36 8.77%Motilal Oswal Wealth Management Ltd. Associate 01-Apr-2016 to 31-Mar-2017 2.96 4.85%

Previous Year 2015 – 2016:


Nature of Association/ Nature of relation Period covered

Commission paid (Rs. in Crores ) &% of total Commission paid

Rs. %Motilal Oswal Securities Ltd. Sponsor 01-Apr-2015 to 31-Mar-2016 3.15 8.84%Motilal Oswal Wealth Management Ltd. Associate 01-Apr-2015 to 31-Mar-2016 1.99 5.61%

“Selling and Distribution expenses includes expenses charged under Regulation 52(6) sub regulation (6A)(b)&(C) of SEBI (Mutual Funds) Regulations, 1996. Additionally, AMC has paid commission to distributors directly”.

6 The aggregate value of investments purchased and sold (including redeemed) during the year/period and these amounts as a percentage of average daily net assets are as follows:

Current Year 2016 – 2017:

Scheme NamePurchase

(Rupees in Crore)Sale

(Rupees in Crore)Purchase as % to average

daily net assetsSale as % to average

daily net assets2016-2017 2016-2017 2016-2017 2016-2017

Motilal Oswal MOSt Focused 25 Fund 407.95 405.73 104.21% 103.64%Motilal Oswal MOSt Focused Midcap 30 Fund 836.05 734.58 70.18% 61.66%Motilal Oswal MOSt Focused Multicap 35 Fund 3,587.64 2,380.76 81.20% 53.88%Motilal Oswal MOSt Focused Long Term Fund 347.48 183.32 173.28% 91.42%Motilal Oswal MOSt Focused Dynamic Equity Fund 783.36 344.09 *350.25% *153.85%

* Annualized rate Previous Year 2015 – 2016:

Scheme NamePurchase

(Rupees in Crore)Sale

(Rupees in Crore)Purchase as % to average

daily net assetsSale as % to average

daily net assets2015-2016 2015-2016 2015-2016 2015-2016

Motilal Oswal MOSt Focused 25 Fund 501.41 363.64 132.70% 96.24%Motilal Oswal MOSt Focused Midcap 30 Fund 867.48 338.78 120.02% 46.87%Motilal Oswal MOSt Focused Multicap 35 Fund 3,185.37 1,180.96 126.63% 46.95%Motilal Oswal MOSt Focused Long Term Fund 113.61 26.62 153.16% 35.89%

Note: Purchase/Sale does not include term deposits, rights and Repo.7 Segment Information The Schemes operate only in one segment viz.to primarily generate returns, based on schemes investment objective.8 Summary of NAV per unit, Income and Expense ratio NAV per unit (Rs.)

Option

Scheme Name


March 31, 2017 March 31, 2016

Growth 18.6180 14.6050

Dividend 15.5910 12.6235

Daily Dividend - -

Weekly - -

Fortnightly - -

Monthly - -

Quarterly - -

Direct Growth 19.6718 15.2244

Direct Dividend 16.5536 13.2011

Direct Daily Dividend - -

Direct Weekly Dividend - -

Direct Fortnightly Dividend - -

Direct Monthly Dividend - -

Direct Quarterly Dividend - -



38

NAV per unit (Rs.)

Option

Scheme Name

Motilal Oswal MOSt Focused Midcap 30 Fund



Motilal Oswal MOSt Focused Dynamic Equity

Fund

31-Mar-17 31-Mar-16 31-Mar-17 31-Mar-16 31-Mar-17 31-Mar-16 31-Mar-17 31-Mar-16

Growth 24.2406 19.0768 22.7704 16.5962 14.7884 10.6042 10.7508 _

Dividend 21.2463 17.0953 22.7704 16.5962 14.2830 10.6042 _

Daily Dividend _ _ _ _ _ _ _ _

Weekly _ _ _ _ _ _ _ _

Fortnightly _ _ _ _ _ _ _ _

Monthly _ _ _ _ _ _ _ _

Quarterly _ _ _ _ _ _ 10.7508 _

Annual Dividend Option _ _ _ _ _ _ 10.7508 _

Direct Growth 25.1743 19.568 23.4327 16.9329 15.2563 10.7741 10.8237 _

Direct Dividend 22.1274 17.5731 23.4327 16.9329 14.7508 10.7741 _ _

Direct Daily Dividend _ _ _ _ _ _ _ _

Direct Weekly Dividend _ _ _ _ _ _ _ _

Direct Quarterly Dividend 10.8237 _

Direct Annual Dividend Option _ _ _ _ _ _ 10.8237 _ The net asset value disclosed above represents the last declared NAV as on March 31, 2017 and March 31, 2016. Income & Expense Ratio: Current Year 2016-2017:

Scheme Name Expense Amount in Rs.

Expense Ratio2016-2017

Income Amount in Rs.

Income Ratio2016-2017

Motilal Oswal MOSt Focused 25 Fund 108,208,193 2.76% 1,131,983,412 28.92%

Motilal Oswal MOSt Focused Midcap 30 Fund 271,663,028 2.28% 3,060,416,788 25.69%

Motilal Oswal MOSt Focused Multicap 35 Fund 930,308,513 2.11% 15,314,297,621 34.66%

Motilal Oswal MOSt Focused Long Term Fund 61,619,714 3.07% 753,894,310 37.60%

Motilal Oswal MOSt Focused Dynamic Equity Fund 62,477,682 2.79% 449,106,373 20.08%

Previous Year 2015-2016:

Scheme Name Expense Amount in Rs.

Expense Ratio2015-2016

Income Amount in Rs.

Income Ratio2015-2016

Motilal Oswal MOSt Focused 25 Fund 92,254,736 2.43% (244,997,033) (6.47)%

Motilal Oswal MOSt Focused Midcap 30 Fund 167,452,997 2.31% (150,316,427) (2.07)%

Motilal Oswal MOSt Focused Multicap 35 Fund 519,784,838 2.06% (644,658,453) (2.56)%

Motilal Oswal MOSt Focused Long Term Fund 23,551,272 3.17% 4,549,679 0.61%

Note:- Income includes Loss on sale/redemption of investments (net) (other than inter-scheme transfer/sale) and change in net unrealized loss in the value of investments

Expenditure excludes deferred revenue expenditure amortized, net change in provision for unrealized loss in value of investments and realized loss on inter scheme / third party sale of investments if any.

9 Large Holding in the schemes As at March 31, 2017 (i.e. in excess of 25% of the net assets) – Nil10 Open Position as at March 31, 2017 and March 31, 2016 are as under:

10.1 Future:A. Hedging Positions through Futures as on March 31, 2017

Scheme Name Underlying Long / Short

Futures Price when purchased

Current price of the contract

Margin maintained in Rs. Lakhs

NIL

Total %age of existing assets hedged through futures : NIL



39

For the period ended March 31, 2017 following details specified for hedging transactions through futures which have been squared off/expired:

ParticularsScheme Name

Motilal OswalMOSt Focused Dynamic Fund


Total Number of contracts where futures were bought : 174 60

Total Number of contracts where futures were sold : 174 60

Gross Notional Value of contracts where futures were bought : Rs. (in lakhs) 1213.75 457.04

Gross Notional Value of contracts where futures were sold : Rs. (in lakhs) 1217.13 463.67

Net Profit/Loss value on all contracts combined : Rs. (in lakhs) 3.38 6.63

B. Other than Hedging Positions through Futures as on March 31, 2017

Scheme Name Underlying Long / Short

Futures Price when purchased

Current price of the contract

Margin maintained in Rs. Lakhs

Motilal Oswal MOSt Focused Dynamic Fund BANKNIFTY Short 21,279.03 21,488.15 283.54

Total %age of existing assets hedged through futures : 4.84% For the period ended March 31, 2017 following details specified for hedging transactions through futures which have been squared off/expired:

ParticularsScheme Name

Motilal Oswal MOSt Focused Dynamic Fund

Total Number of contracts where futures were bought : 2,281

Total Number of contracts where futures were sold : 2,281

Gross Notional Value of contracts where futures were bought : Rs. (in lakhs) 15,772.02

Gross Notional Value of contracts where futures were sold : Rs. (in lakhs) 15,615.34

Net Profit/Loss value on all contracts combined : Rs. (in lakhs) -156.68

C. Hedging Positions through Put Options as on March 31, 2017 - NILD. Other than Hedging Positions through Options as on March 31, 2017 - NILE. Hedging Positions through swaps as on March 31, 2017 - NIL

10.2 Fixed Deposits: NIL10.3 Open Position of Securities Borrowed and / or Lent by the Scheme: Current Year 2016-2017: NIL Previous Year 2015-2016: NIL10.4 During the year ended 31st March, 2017 there were no borrowings by any of the schemes.

11. RELATED PARTY DISCLOSURES:- The Scheme has entered into transactions with certain related parties. The information required in this regard in accordance with Accounting Standard 18 on

‘Related Party Disclosures’ issued by the ICAI and Regulation 25(8) of the SEBI Regulations, is provided below.(i) Related party relationships

Sr. No. Name of the Companies/Firm

1. Motilal Oswal Financial Services Ltd Ultimate holding Company of MOAMC

2. Motilal Oswal Securities Ltd. Sponsor of the Mutual Fund and Holding company of MOAMC

3.Motilal Oswal Asset Management Co. Ltd.

Subsidiary of the Sponsor and the Investment Manager of the Mutual Fund

4. Motilal Oswal Trustee Co. Ltd. Subsidiary of sponsor and the Trustee of the Mutual Fund

5. Motilal Oswal Wealth Management Pvt. Ltd. Associate

Schemes of the Fund, under common control of the Sponsor Motilal Oswal MOSt Shares M50 ETF (MOSt Shares M50) Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares Midcap 100) Motilal Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100) Motilal Oswal MOSt Focused 25 Fund (MOSt Focused 25) Motilal Oswal MOSt Ultra Short Bond Fund (MOSt Ultra Short Term Bond Fund) Motilal Oswal MOSt Focused Midcap 30 Fund (MOSt Focused Midcap 30) Motilal Oswal MOSt Focused Multicap 35 Fund (MOSt Focused Multicap 35) Motilal Oswal MOSt Focused Long Term Fund (MOSt Focused Long Term) Motilal Oswal MOSt Focused Dynamic Equity Fund(MOSt Focused Dynamic Equity)



40

(ii) The Scheme has entered into transactions with certain related parties. The information required in this regard in accordance with Accounting Standard 18 on ‘Related Party Disclosures’ issued by the ICAI is provided below

Name of Related Party Description of relationship

Nature of transactions

For the Year Ended 01.04.16

to 31.03.17

Balance as on 31.03.17 For the Year

Ended 01.04.15 to 31.03.16

Balance as on 31.03.16

Rs. Rs.

Motilal Oswal Securities Limited

Sponsor of the Mutual Fund Investments in units of Mutual Fund disclosed below.

Scheme Name

MOSt Focused Multicap 35 Fund

Subscriptions (Units) 2,722.6460510613.812

31,087,131.107131,391,762.816

Redemption (Units) 70,960,171.734 29,603,172.00

MOSt Focused Midcap 30 Fund

Subscriptions (Units) -39485.903

15,372,662.5323,380,715.887

Redemption (Units) 23,346,150.423 25,274,409.572

MOSt Focused Long Term Fund

Subscriptions (Units) -205,816.025

123,078.38 205,816.025_Redemption (Units) - _

MOSt Focused 25Subscriptions (Units) 31,355,689.388

31510022.6741,968,917.740

894,087.897Redemption (Units) 674,742.409 30,993,048.177


Subscriptions (Units) -213,175

--

Redemption (Units) - -

MOSt Ultra Short Term Bond Fund

Subscriptions (Units) 176,770,697.1797559935.03

74,686,694.60 521,520.33_Redemption (Units) - _

Motilal Oswal Financial Services Limited Ultimate holding Compan

MOSt Focused 25Subscriptions (Units) 1,782,668.893

1,782,668.893-

-Redemption (Units) - 23,371,349.485

MOSt Ultra Short Term Bond Fund Subscriptions (Units) -

- -

Redemption (Units) -

MOSt Focused Midcap 30 Fund

Subscriptions (Units) 5,166,598.89554,542,930.569

25,138,689.11559,096,134.711

Redemption (Units) 9,719,803.037 -

MOSt Focused Multicap 35 Fund

Subscriptions (Units) 41,194,305.058186,171,110.031

34,375,440.473144,976,804.973


MOSt Focused Long Term Fund

Subscriptions (Units) --

--

Redemption (Units) - _


Subscriptions (Units) --

--


Motilal Oswal Trustee Company Limited

Trustee of the Mutual Fund

Fees for trusteeship services (Rs. Cr) 0.10 0.01 0.12 0.00*

Motilal Oswal Asset Management Company Limited

Investment Manager Fees for management services (Rs. Cr) 101.88 2.07 55.12 6.9

* This represents the amount less than 0.01cr. There are no underwriting obligations undertaken by the Scheme with respect to issue of securities of associate companies. The Investment Manager has

not dealt in any securities through brokers associated with the Sponsor. The Scheme has not made any investment in the issues lead managed by Associate Companies.



41

12 Industry wise Classification of Investments Investment Portfolio as on March 31, 2017 giving the total value of investments falling under each major industry group and within each major classification the

percentage thereof in relation to the total investment within the classification is given in Annexure 1.13 Income Tax No provision for current income tax has been made as the Schemes qualify as a recognised mutual fund under Section 10 (23D) of the Income Tax Act, 1961 of

India.14 Contingent Liability

Contingent Liability 31.03.17 31.03.16

a) Underwriting commitments NIL NIL

b) Uncalled liability on partly paid shares/debentures NIL NIL

c) Other commitments NIL NIL

15 The schemes have not participated in Credit Default Swaps (CDS) during the year ended March 31, 2017 and in year ended March 31, 2016.16 Unclaimed Dividend and Unclaimed Redemptions Current Year 2016-2017:

Scheme Name Unclaimed Dividends Unclaimed Redemptions

Amount (Rs.) No. of Investors Amount (Rs.) No. of Investors

Motilal Oswal MOSt Focused 25 Fund 70,488 28 35,653 1

Motilal Oswal MOSt Focused Midcap 30 Fund 138,134 13 Nil Nil

MOSt Focused Multicap 35 Fund Nil Nil 6,750 1

Motilal Oswal MOSt Focused Long Term Fund 322,226 104 Nil Nil

Previous Year 2015-2016:Scheme Name Unclaimed Dividends Unclaimed Redemptions

Amount (Rs.) No. of Investors Amount (Rs.) No. of InvestorsMotilal Oswal MOSt Focused Midcap 30 Fund 14,088 4 30,000 1

17 Prior Period Comparatives Prior period figures have been reclassified, wherever necessary, to confirm to current year’s presentation.18 The Annual Accounts of the schemes has been approved by the Board of Directors of MOAMC on July 6, 2017 and MOTC on July 6, 2017.








42

ANNExURE - I Motilal Oswal MOSt Focused 25 Fund

Portfolio as on March 31, 2017

Sr. No.

Name of the Instrument ISIN Code Industry Classification# Quantity Market Value(Rs. in Lakhs)

% to NAV

(A) EQUITY & EQUITY RELATED INSTRUMENTS(a) LISTED1 HDFC Bank Ltd. INE040A01026 Banks 332,748 4,800.06 9.702 Kotak Mahindra Bank Ltd. INE237A01028 Banks 517,970 4,517.73 9.133 Max Financial Services Ltd. INE180A01020 Finance 769,502 4,439.64 8.974 Maruti Suzuki India Ltd. INE585B01010 Auto 68,417 4,115.76 8.325 Lupin Ltd. INE326A01037 Pharmaceuticals 245,419 3,546.80 7.176 ICICI Prudential Life Insurance Company Ltd. INE726G01019 Finance 902,104 3,449.65 6.977 Eicher Motors Ltd. INE066A01013 Auto 13,331 3,411.07 6.898 Indian Oil Corporation Ltd. INE242A01010 Petroleum Products 774,000 2,995.77 6.059 Bosch Ltd. INE323A01026 Auto Ancillaries 12,929 2,941.51 5.94

10 Hindustan Petroleum Corporation Ltd. INE094A01015 Petroleum Products 512,091 2,691.81 5.4411 Britannia Industries Ltd. INE216A01022 Consumer Non Durables 75,992 2,563.97 5.1812 State Bank of India INE062A01020 Banks 852,649 2,501.67 5.0513 RBL Bank Ltd. INE976G01028 Banks 481,829 2,382.89 4.8114 Bayer Cropscience Ltd. INE462A01022 Pesticides 34,384 1,305.29 2.6415 Godrej Industries Ltd. INE233A01035 Consumer Non Durables 239,961 1,212.28 2.4516 Infosys Ltd. INE009A01021 Software 92,825 948.90 1.9217 InterGlobe Aviation Ltd. INE646L01027 Transportation 51,793 544.55 1.1018 Avenue Supermarts Ltd. INE192R01011 Retailing 31,102 198.38 0.40

Sub Total 48,567.72 98.12(b) UNLISTED Nil

Total 48,567.72 98.12(B) DEBT INSTRUMENTS(a) Listed / Awaiting Listing on Stock Exchanges

Government Securities NilNon-Convertible Debentures / Bonds NilZero Coupon Bonds / Deep Discount Bonds Nil

(b) Privately Placed / UnlistedNon-Convertible Debentures / Bonds NilZero Coupon Bonds / Deep Discount Bonds Nil

(c) Securitized Debt Instruments NilTotal Nil

(C) MONEY MARKET INSTRUMENTSBills Rediscounting NilCommercial Papers (CP) / Certificate of Deposit (CD)

Nil

Treasury Bills NilCBLO/Reverse Repo Investments 499.78 1.01Total 499.78 1.01

(D) FIxED DEPOSITSDeposits (maturity not exceeding 91 days) NilDeposits (Placed as margin) NilTotal Nil

(E) OTHERSNet Current Assets 429.66 0.87Total 429.66 0.87GRAND TOTAL 49,497.16 100.00

# Industry classification as recommended by AMFI.

43

ANNExURE - I Motilal Oswal MOSt Focused Midcap 30 Fund


Sr. No.


% to NAV

(A) EQUITY & EQUITY RELATED INSTRUMENTS(a) LISTED1 RBL Bank Ltd. INE976G01028 Banks 3,002,877 14,850.73 11.382 Max Financial Services Ltd. INE180A01020 Finance 2,049,889 11,826.83 9.063 TVS Motor Company Ltd. INE494B01023 Auto 1,949,011 8,396.34 6.434 The Ramco Cements Ltd. INE331A01037 Cement 1,189,419 8,000.63 6.135 Amara Raja Batteries Ltd. INE885A01032 Auto Ancillaries 898,176 7,994.22 6.136 Jubilant Life Sciences Ltd. INE700A01033 Pharmaceuticals 908,717 7,267.92 5.577 Alkem Laboratories Ltd. INE540L01014 Pharmaceuticals 317,459 6,999.65 5.368 Tata Elxsi Ltd. INE670A01012 Software 414,676 6,074.59 4.669 Bajaj Finance Ltd. INE296A01024 Finance 469,801 5,501.84 4.2210 Multi Commodity Exchange of India Ltd. INE745G01035 Finance 454,546 5,477.51 4.2011 WABCO India Ltd. INE342J01019 Auto Ancillaries 92,495 5,388.85 4.1312 DCB Bank Ltd. INE503A01015 Banks 3,117,991 5,308.38 4.0713 Havells India Ltd. INE176B01034 Consumer Durables 1,130,522 5,265.41 4.0414 Ajanta Pharma Ltd. INE031B01049 Pharmaceuticals 292,585 5,151.11 3.9515 Triveni Turbine Ltd. INE152M01016 Industrial Capital Goods 3,287,560 4,763.67 3.6516 Bayer Cropscience Ltd. INE462A01022 Pesticides 111,101 4,217.62 3.2317 Timken India Ltd. INE325A01013 Industrial Products 647,960 4,179.67 3.2018 Force Motors Ltd. INE451A01017 Auto 90,965 4,081.69 3.1319 CRISIL Ltd. INE007A01025 Finance 204,336 3,891.58 2.9820 S H Kelkar and Company Ltd. INE500L01026 Consumer Non Durables 1,175,069 3,483.49 2.6721 Quess Corp Ltd. INE615P01015 Commercial Services 227,946 1,573.74 1.21

Sub Total 129,695.45 99.39(b) UNLISTED Nil





(C) MONEY MARKET INSTRUMENTSBills Rediscounting NilCommercial Papers (CP) / Certificate of Deposit (CD) NilTreasury Bills NilCBLO/Reverse Repo Investments 499.78 0.38Total 499.78 0.38


(E) OTHERSNet Current Assets 296.03 0.23Total 296.03 0.23GRAND TOTAL 130,491.26 100.00

# Industry classification as recommended by AMFI

ANNExURE - I Motilal Oswal MOSt Focused Midcap 30 Fund (contd...)


44

ANNExURE - I Motilal Oswal MOSt Focused Multicap 35 Fund


Sr. No.


% to NAV

(A) EQUITY & EQUITY RELATED INSTRUMENTS(a) LISTED1 HDFC Bank Ltd. INE040A01026 Banks 3,742,405 53,986.06 9.012 IndusInd Bank Ltd. INE095A01012 Banks 3,773,028 53,771.31 8.973 Eicher Motors Ltd. INE066A01013 Auto 155,318 39,741.99 6.634 Maruti Suzuki India Ltd. INE585B01010 Auto 640,811 38,549.27 6.435 RBL Bank Ltd. INE976G01028 Banks 7,370,928 36,452.92 6.086 Bharat Petroleum Corporation Ltd. INE029A01011 Petroleum Products 5,269,998 34,247.08 5.727 Jubilant Life Sciences Ltd. INE700A01033 Pharmaceuticals 4,181,691 33,445.16 5.588 Hindustan Petroleum Corporation Ltd. INE094A01015 Petroleum Products 5,751,510 30,232.81 5.059 PNB Housing Finance Ltd. INE572E01012 Finance 2,450,818 29,174.54 4.8710 Max Financial Services Ltd. INE180A01020 Finance 4,939,407 28,497.91 4.7611 Bajaj Finance Ltd. INE296A01024 Finance 2,338,903 27,390.89 4.5712 Alkem Laboratories Ltd. INE540L01014 Pharmaceuticals 1,196,100 26,372.81 4.4013 Lupin Ltd. INE326A01037 Pharmaceuticals 1,629,946 23,555.98 3.9314 InterGlobe Aviation Ltd. INE646L01027 Transportation 2,193,136 23,058.63 3.8515 Housing Development Finance Corporation Ltd. INE001A01036 Finance 1,337,282 20,087.31 3.3516 United Spirits Ltd. INE854D01016 Consumer Non Durables 906,915 19,722.68 3.2917 Ajanta Pharma Ltd. INE031B01049 Pharmaceuticals 1,107,574 19,499.39 3.2518 State Bank of India INE062A01020 Banks 5,890,594 17,283.00 2.8819 Britannia Industries Ltd. INE216A01022 Consumer Non Durables 491,537 16,584.46 2.7720 Manpasand Beverages Ltd. INE122R01018 Consumer Non Durables 2,284,083 16,091.36 2.6921 Advanced Enzyme Technologies Ltd. INE837H01012 Consumer Non Durables 317,994 6,548.93 1.0922 Avenue Supermarts Ltd. INE192R01011 Retailing 333,000 2,124.04 0.35

Foreign Securities/Overseas ETFs NilSub Total 596,418.56 99.54

(b) UNLISTEDTotal 596,418.56 99.54

(B) DEBT INSTRUMENTS(a) Listed / Awaiting Listing on Stock Exchanges




(C) MONEY MARKET INSTRUMENTSBills Rediscounting NilCommercial Papers (CP) / Certificate of Deposit (CD) NilTreasury Bills NilCBLO/Reverse Repo Investments 1,599.31 0.27Total 1,599.31 0.27


(E) OTHERSNet Current Assets 1,141.38 0.19Total 1,141.38 0.19TOTAL NET ASSET 599,159.25 100.00


45

ANNExURE - I Motilal Oswal MOSt Focused Long Term Fund


Sr. No.


% to NAV

(A) EQUITY & EQUITY RELATED INSTRUMENTS(a) LISTED1 HDFC Bank Ltd. INE040A01026 Banks 204,858 2,955.18 7.562 IndusInd Bank Ltd. INE095A01012 Banks 207,208 2,953.02 7.553 Can Fin Homes Ltd. INE477A01012 Finance 125,814 2,669.08 6.834 Eicher Motors Ltd. INE066A01013 Auto 10,301 2,635.77 6.745 Maruti Suzuki India Ltd. INE585B01010 Auto 38,514 2,316.89 5.936 Jubilant Life Sciences Ltd. INE700A01033 Pharmaceuticals 271,384 2,170.53 5.557 Bajaj Finance Ltd. INE296A01024 Finance 165,504 1,938.22 4.968 Astral Poly Technik Ltd. INE006I01046 Industrial Products 344,124 1,884.60 4.829 Indian Oil Corporation Ltd. INE242A01010 Petroleum Products 427,677 1,655.32 4.2310 Voltas Ltd. INE226A01021 Construction Project 393,714 1,622.50 4.1511 Max Financial Services Ltd. INE180A01020 Finance 264,512 1,526.10 3.9012 State Bank of India INE062A01020 Banks 519,304 1,523.64 3.9013 Bharat Petroleum Corporation Ltd. INE029A01011 Petroleum Products 233,773 1,519.17 3.8914 InterGlobe Aviation Ltd. INE646L01027 Transportation 136,834 1,438.67 3.6815 Lupin Ltd. INE326A01037 Pharmaceuticals 94,744 1,369.24 3.5016 Tata Elxsi Ltd. INE670A01012 Software 83,128 1,217.74 3.1117 Alkem Laboratories Ltd. INE540L01014 Pharmaceuticals 53,067 1,170.07 2.9918 Syngene International Ltd. INE398R01022 Pharmaceuticals 200,637 1,044.82 2.6719 United Spirits Ltd. INE854D01016 Consumer Non Durables 36,690 797.90 2.0420 Bayer Cropscience Ltd. INE462A01022 Pesticides 16,113 611.68 1.5621 Manpasand Beverages Ltd. INE122R01018 Consumer Non Durables 63,471 447.15 1.1422 Avenue Supermarts Ltd. INE192R01011 Retailing 18,400 117.36 0.30

Sub Total 35,584.66 91.01(b) UNLISTED





(C) MONEY MARKET INSTRUMENTSBills Rediscounting NilCommercial Papers (CP) / Certificate of Deposit (CD) NilTreasury Bills NilCBLO/Reverse Repo Investments 1,014.56 2.59Total 1,014.56 2.59




46

ANNExURE - I Motilal Oswal MOSt Focused Dynamic Equity Fund

Portfolio as on March 31, 2017Sr. No.


% to NAV

(A) EQUITY & EQUITY RELATED INSTRUMENTS(a) LISTED1 HDFC Bank Ltd. INE040A01026 Banks 236,450 3,410.91 5.842 IndusInd Bank Ltd. INE095A01012 Banks 223,280 3,182.07 5.453 Maruti Suzuki India Ltd. INE585B01010 Auto 43,424 2,612.26 4.484 Eicher Motors Ltd. INE066A01013 Auto 8,953 2,290.85 3.925 Bharat Petroleum Corporation Ltd. INE029A01011 Petroleum Products 330,776 2,149.55 3.686 Jubilant Life Sciences Ltd. INE700A01033 Pharmaceuticals 266,025 2,127.67 3.657 InterGlobe Aviation Ltd. INE646L01027 Transportation 201,268 2,116.13 3.638 RBL Bank Ltd. INE976G01028 Banks 367,976 1,819.83 3.129 State Bank of India INE062A01020 Banks 590,911 1,733.73 2.9710 Max Financial Services Ltd. INE180A01020 Finance 297,963 1,719.10 2.9511 Astral Poly Technik Ltd. INE006I01046 Industrial Products 266,666 1,460.40 2.5012 Lupin Ltd. INE326A01037 Pharmaceuticals 99,801 1,442.32 2.4713 Indian Oil Corporation Ltd. INE242A01010 Petroleum Products 353,666 1,368.86 2.3514 Tata Elxsi Ltd. INE670A01012 Software 88,267 1,293.02 2.2215 Alkem Laboratories Ltd. INE540L01014 Pharmaceuticals 56,600 1,247.97 2.1416 United Spirits Ltd. INE854D01016 Consumer Non Durables 53,680 1,167.38 2.0017 PNB Housing Finance Ltd. INE572E01012 Finance 90,940 1,082.55 1.8518 Bajaj Finance Ltd. INE296A01024 Finance 65,453 766.52 1.3119 Housing Development Finance Corporation Ltd. INE001A01036 Finance 46,381 696.69 1.1920 Manpasand Beverages Ltd. INE122R01018 Consumer Non Durables 78,598 553.72 0.9521 Can Fin Homes Ltd. INE477A01012 Finance 19,800 420.05 0.7222 Ajanta Pharma Ltd. INE031B01049 Pharmaceuticals 18,006 317.00 0.5423 Syngene International Ltd. INE398R01022 Pharmaceuticals 38,409 200.01 0.3424 Avenue Supermarts Ltd. INE192R01011 Retailing 20,400 130.12 0.22

Sub Total 35,308.72 60.49(b) UNLISTED


Non-Convertible Debentures / Bonds **1 Aditya Birla Finance Ltd. INE860H07EI6 ICRA AA+ 250,000,000 2,490.29 4.272 Tata Motors Ltd. INE155A08316 CARE AA+ 250,000,000 2,466.27 4.233 Power Finance Corporation Ltd. INE134E08ID3 CRISIL AAA 150,000,000 1,530.75 2.624 Aditya Birla Finance Ltd. INE860H07DB3 ICRA AA+ 150,000,000 1,523.71 2.615 HDB Financial Services Ltd. INE756I07AB7 CRISIL AAA 150,000,000 1,516.91 2.606 PNB Housing Finance Ltd. INE572E09379 CARE AAA 100,000,000 1,021.24 1.757 Mahindra & Mahindra Financial Services Ltd. INE774D07PW5 CARE AAA 100,000,000 999.75 1.718 Reliance Capital Ltd. INE013A073F3 CARE AAA 100,000,000 995.95 1.719 Reliance Capital Ltd. INE013A073G1 CARE AAA 100,000,000 995.93 1.7110 Shriram Transport Finance Company Ltd. INE721A07GT7 CRISIL AA+ 50,000,000 538.47 0.9211 Rural Electrification Corporation Ltd. INE020B08807 CRISIL AAA 50,000,000 533.85 0.9112 Power Finance Corporation Ltd. INE134E08IC5 CRISIL AAA 50,000,000 506.01 0.87

Sub Total 15,119.12 25.90Zero Coupon Bonds / Deep Discount Bonds Nil

(b) Privately Placed / UnlistedNon-Convertible Debentures / BondsZero Coupon Bonds / Deep Discount Bonds Nil

(c) Securitized Debt Instruments Nil(d) Government Securities Nil

Total 15,119.12 25.90(C) MONEY MARKET INSTRUMENTS

Bills Rediscounting NilCommercial Papers (CP) / Certificate of Deposit (CD) NilTreasury Bills NilCBLO/Reverse Repo Investments 3,498.35 5.99Total 3,498.35 5.99

(D) FIxED DEPOSITSDeposits (maturity not exceeding 91 days) NilDeposits (Placed as margin)

1 HDFC Bank Ltd. IDIA00169937 Unrated 20,000,000 200.00 0.342 HDFC Bank Ltd. IDIA00165113 Unrated 11,000,000 110.00 0.19

Sub Total 310.00 0.53Total 310.00 0.53


# Industry classification as recommended by AMFI**Thinly traded/Non traded securities as defined in SEBI Regulations and Guidelines.

47


Motilal Oswal MOSt Focused Midcap 30 Fund


Year ended Year ended Year ended Year ended Year ended Year ended31.03.17 31.03.16 31.03.17 31.03.16 31.03.17 31.03.16Rupees Rupees Rupees Rupees Rupees Rupees

A. Cashflow from Operating ActivityExcess of income and gains over expenses and losses 1,023,775,219 (337,251,768) 2,788,753,760 (317,769,425) 14,383,962,014 (1,164,443,294)

Operating Profit Before Working Capital Changes 1,023,775,219 (337,251,768) 2,788,753,760 (317,769,425) 14,383,962,014 (1,164,443,294)Adjustments for:-

(Increase)/decrease in other current assets (63,374,399) 3,083,761 9,655,074 (2,845,239) 3,577,396 50,515,980(Increase)/decrease in money market lending (deposits) - - (500,000) (300,000) (2,600,000) (6,500,000)

(Increase)/decrease in investments (1,092,140,890) (1,088,428,592) (4,018,766,894) (5,052,157,630) (26,728,729,235) (19,054,675,737)Increase/(decrease) in current liabilities and provisions 43,077,986 (5,237,541) (86,732,483) 85,522,924 368,497,309 (10,565,144)

Net Cash Generated From / (used in) Operating Activities ( A ) (88,662,084) (1,427,834,141) (1,307,590,543) (5,287,549,370) (11,975,292,516) (20,185,668,195)

B Cashflow from Financing ActivitiesIncrease/(decrease) in unit corpus (net) 72,539,519 913,033,130 535,304,412 2,738,438,041 6,336,749,772 11,565,361,250Increase/(decrease) in unit premium (net) 81,247,250 537,644,206 570,793,055 2,774,187,749 6,251,969,627 8,635,894,030Outstanding receivable/payables for unit corpus (701,708) 189,305 (3,356,327) 4,235,497 82,248,708 45,142,851Dividend paid during the year (including dividend tax paid) (16,378,945) (27,498,472) (25,555,243) (78,308,389) - -

Net Cash from / (Used in) Financing Activities ( B ) 136,706,116 1,423,368,169 1,077,185,897 5,438,552,898 12,670,968,107 20,246,398,131Net Increase / (Decrease) in Cash & Cash Equivalents (A+B) 48,044,032 (4,465,972) (230,404,646) 151,003,528 695,675,592 60,729,937

Cash and cash equivalents as at the beginning of the year 40,046,317 44,512,289 326,006,732 175,003,204 171,531,480 110,801,543

Cash and cash equivalents as at the close of the year 88,090,349 40,046,317 95,602,087 326,006,732 867,207,072 171,531,480Net Increase / (Decrease) in Cash & Cash Equivalents 48,044,032 (4,465,972) (230,404,645) 151,003,528 695,675,592 60,729,937

Components in cash and cash equivalentsWith banks - on current account 38,111,915 13,767,052 45,623,653 84,896,978 707,276,083 106,282,964Obligations (Reverse Repo) 49,978,434 26,279,265 49,978,434 241,109,755 159,930,989 65,248,516.24Total Cash and Cash Equivalent 88,090,349 40,046,317 95,602,087 326,006,732 867,207,072 171,531,480Notes To Accounts 7

Note: The above cashflow statement has been prepared under the indirect method set out inAccounting Standard 3- Cash Flow Statement, issued by the Institute of Chartered Accountants of India.






Cash Flow Statement for the year April 1, 2016 to March 31, 2017

48

PERSPECTIVE HISTORICAL PER UNIT STATISTICSMotilal Oswal

MOSt Focused 25 FundMotilal Oswal

MOSt Focused Midcap 30 FundFor the Year

endedFor the Year

endedFor the

period endedFor the Year

endedFor the Year

endedFor the

period endedMarch 31,

2017March 31,

2016March 31,

2015March 31,

2017March 31,

2016March 31,

2015a. Net assets value, per unit Rs.

(at the end of the period)Growth Option 18.6180 14.6050 16.1589 24.2406 19.0768 19.4655Dividend Option 15.5910 12.6235 14.9653 21.2463 17.0953 18.5065Dividend Option-Daily dividend frequency - - - - - -Dividend Option-Weekly dividend frequency - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - -Dividend Option-Monthly dividend frequency - - - - - -Dividend Option-Quarterly dividend frequency - - - - - -Dividend Option-Annual dividend frequency - - - - - -# Direct Plan - Growth Option 19.6718 15.2244 16.6290 25.1743 19.5680 19.7290# Direct Plan - Dividend Option 16.5536 13.2011 15.4084 22.1274 17.5731 18.7689# Direct Plan - Dividend Option-Daily dividend frequency - - - -# Direct Plan - Dividend Option - Weekly dividend frequency - - - - - -# Direct Plan - Dividend Option - Fortnightly dividend frequency - - - - - -# Direct Plan - Dividend Option - Monthly dividend frequency - - - - - -# Direct Plan - Dividend Option - Quarterly dividend frequency - - - - - -# Direct Plan - Dividend Option - Annual dividend frequency - - - - - -

b. Gross Income(i) Income other than profit on sale of investments 0.23 0.17 0.13 0.11 0.17 0.07(ii) Income from profit / (loss) on inter scheme sales/transfer of

investment- - - -

(iii) Income from profit / (loss) on sale of investment other than interscheme

0.59 0.79 1.85 0.59 0.60 0.54

(iv) Transfer to revenue account from past years’ reserve - - - - - -c. Aggregate of expenses, writeoff, amortisation and charges

(excluding unrealised depreciation in investments)0.40 0.35 0.26 0.51 0.35 0.18

d. Net Income 3.82 (1.29) 4.32 5.19 (0.66) 4.38e. Unrealised appreciation / (depreciation) in value of investments 3.40 1.90 2.61 5.00 1.09 3.95f(i). Repurchase Price:

Highest PriceGrowth Option 18.6180 17.4107 16.9023 24.2406 21.8500 20.2964Growth Option Pre Split* - - - - - -Growth Option Post Split* - - - - - -Dividend Option 15.9292 16.1247 15.6540 21.7029 20.7732 20.1866Dividend Option-Daily dividend frequency - - - - - -Dividend Option-Weekly dividend frequency - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - -Dividend Option-Monthly dividend frequency - - - - - -Dividend Option-Quarterly dividend frequency - - - - -Dividend Option-Annual dividend frequency - - - - - -

# Direct Plan - Growth Option 19.6718 18.0035 17.3759 25.1743 22.2420 20.5495# Direct Plan - Dividend Option 16.8789 16.6819 16.1004 22.4479 21.1598 20.4367# Direct Plan - Dividend Option-Daily dividend frequency - - - - - -# Direct Plan - Dividend Option-Weekly dividend frequency - - - - - -# Direct Plan - Dividend Option-Fortnightly dividend frequency - - - - - -# Direct Plan - Dividend Option-Monthly dividend frequency - - - - - -# Direct Plan - Dividend Option-Quarterly dividend frequency - -# Direct Plan - Dividend Option-Annual dividend frequency - - - - - -Lowest Price

Growth Option 14.5517 13.7274 10.9282 18.9454 17.8031 10.3135Growth Option Pre Split - - - - - -Growth Option Post Split - - - - - -Dividend Option 12.5778 11.8650 10.9282 16.9776 15.9538 10.3135Dividend Option-Daily dividend frequency - - - - - -Dividend Option-Weekly dividend frequency - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - -Dividend Option-Monthly dividend frequency - - - - - -Dividend Option-Quarterly dividend frequency - - - - -Dividend Option-Annual dividend frequency - - - - - -

49



For the Year ended

For the Year ended

For the period ended

For the Year ended

For the Year ended


March 31, 2017

March 31, 2016

March 31, 2015

March 31, 2017

March 31, 2016

March 31, 2015

# Direct Plan - Growth Option 15.1739 14.2900 11.0974 19.4371 18.2381 10.3256# Direct Plan - Dividend Option 13.1572 12.3908 11.0974 17.4555 16.3787 10.3256# Direct Plan - Dividend Option-Daily dividend frequency - - - - - -# Direct Plan - Dividend Option-Weekly dividend frequency - - - - - -# Direct Plan - Dividend Option-Fortnightly dividend frequency - - - - - -# Direct Plan - Dividend Option-Monthly dividend frequency - - - - - -# Direct Plan - Dividend Option-Quarterly dividend frequency - - - - - -# Direct Plan - Dividend Option-Annual dividend frequency - - - - - -Sale PriceHighest Price

Growth Option 18.6180 17.4107 16.9023 24.2406 21.8500 20.2964Growth Option Pre Split - - - - - -Growth Option Post Split - - - - - -Dividend Option 15.9292 16.1247 15.6540 21.7029 20.7732 20.1866Dividend Option-Daily dividend frequency - - - - - -Dividend Option-Weekly dividend frequency - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - -Dividend Option-Monthly dividend frequency - - - - - -Dividend Option-Quarterly dividend frequency - - - -Dividend Option-Annual dividend frequency - - - - - -

# Direct Plan - Growth Option 19.6718 18.0035 17.3759 25.1743 22.2420 20.5495# Direct Plan - Dividend Option 16.8789 16.6819 16.1004 22.4479 21.1598 20.4367# Direct Plan - Dividend Option-Daily dividend frequency - - - - - -# Direct Plan - Dividend Option-Weekly dividend frequency - - - - - -# Direct Plan - Dividend Option-Fortnightly dividend frequency - - - - - -# Direct Plan - Dividend Option-Monthly dividend frequency - - - - - -# Direct Plan - Dividend Option-Quarterly dividend frequency - - - - - -# Direct Plan - Dividend Option-Annual dividend frequency - - - - - -Lowest Price

Growth Option 14.5517 13.7274 10.9282 18.9454 17.8031 10.5240Growth Option Pre Split - - - - - -Growth Option Post Split - - - - - -Dividend Option 12.5778 11.8650 10.9282 16.9776 15.9538 10.5240Dividend Option-Daily dividend frequency - - - - - -Dividend Option-Weekly dividend frequency - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - -Dividend Option-Monthly dividend frequency - - - - - -Dividend Option-Quarterly dividend frequency - - - -Dividend Option-Annual dividend frequency - - - - - -

# Direct Plan - Growth Option 15.1739 14.2900 11.0974 19.4371 18.2381 10.5363# Direct Plan - Dividend Option 13.1572 12.3908 11.0974 17.4555 16.3787 10.5363# Direct Plan - Dividend Option-Daily dividend frequency - - - - - -# Direct Plan - Dividend Option-Weekly dividend frequency - - - - - -# Direct Plan - Dividend Option-Fortnightly dividend frequency - - - - - -# Direct Plan - Dividend Option-Monthly dividend frequency - - - - - -# Direct Plan - Dividend Option-Quarterly dividend frequency - - - - - -# Direct Plan - Dividend Option-Annual dividend frequency - - - - - -

f(ii). Traded Price - -f(iii). Price-earning Ratio: - -g. Ratio of expenses to average daily net assets by percentage 0.00% 2.43% 2.20% 0.00% 2.31% 2.05%h. Ratio of gross income to average daily net assets by

percentage (excluding transfer to revenue account from past years’ reserve but including unrealised appreciation / depreciation on investments).

28.92% -6.47% 38.70% 25.69% -2.07% 52.01%

PERSPECTIVE HISTORICAL PER UNIT STATISTICS

50




Equity FundFor the period ended







March 31, 2017

March 31, 2016

March 31, 2015

March 31, 2017

March 31, 2016

March 31, 2015 March 31, 2017

a. Net assets value, per unit Rs.(at the end of the period)Growth Option 22.7704 16.5962 17.0181 14.7884 10.6042 10.7054 10.7508Dividend Option 22.7704 16.5962 17.0181 14.2830 10.6042 10.7054 -Dividend Option-Daily dividend frequency - - - - - - -Dividend Option-Weekly dividend frequency - - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - - -Dividend Option-Monthly dividend frequency - - - - - - -Dividend Option-Quarterly dividend frequency - - - - - - 10.7508Dividend Option-Annual dividend frequency - - - - - - 10.7508# Direct Plan - Growth Option 23.4327 16.9329 17.2181 15.2563 10.7742 10.7258 10.8237# Direct Plan - Dividend Option 23.4327 16.9329 17.2181 14.7508 10.7742 10.7258 -# Direct Plan - Dividend Option-Daily dividend

frequency- - - - - - -

# Direct Plan - Dividend Option - Weekly dividend frequency

- - - - - - -

# Direct Plan - Dividend Option - Fortnightly dividend frequency

- - - - - - -

# Direct Plan - Dividend Option - Monthly dividend frequency

- - - - - - -

# Direct Plan - Dividend Option - Quarterly dividend frequency

- - - - - - 10.8237

# Direct Plan - Dividend Option - Annual dividend frequency

- - - - - - 10.8237

b. Gross Income(i) Income other than profit on sale of investments 0.25 0.18 0.04 0.01 0.01 0.00 0.15(ii) Income from profit / (loss) on inter scheme sales/

transfer of investment- - - - - -

(iii) Income from profit / (loss) on sale of investment other than interscheme

0.88 0.36 0.14 0.08 0.00 0.00 -0.01

(iv) Transfer to revenue account from past years’ reserve

- - - - - -

c. Aggregate of expenses, writeoff, amortisation and charges (excluding unrealised depreciation in investments)

0.36 0.26 0.10 0.02 0.02 0.00 0.12

d. Net Income 5.53 (0.59) 3.23 0.26 (0.02) 0.05 0.71e. Unrealised appreciation / (depreciation) in value of

investments4.76 0.87 3.15 0.20 0.01 0.05 0.71

f(i). Repurchase Price:Highest Price

Growth Option 22.7704 18.7697 17.3876 14.7884 11.8268 10.9593 10.7508Growth Option Pre Split* - - - - - - -Growth Option Post Split* - - - - - - -Dividend Option 22.7704 18.7697 17.3876 14.6324 11.8268 10.9593 -Dividend Option-Daily dividend frequency - - - - - - -Dividend Option-Weekly dividend frequency - - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - - -Dividend Option-Monthly dividend frequency - - - - - - -Dividend Option-Quarterly dividend frequency - - - - 10.7508Dividend Option-Annual dividend frequency - - - - - - 10.7508

# Direct Plan - Growth Option 23.4327 19.0476 17.5736 15.2563 11.8982 10.9725 10.8237# Direct Plan - Dividend Option 23.4327 19.0476 17.5736 15.0915 11.8982 10.9725 -# Direct Plan - Dividend Option-Daily dividend


# Direct Plan - Dividend Option-Weekly dividend frequency

- - - - - - -

# Direct Plan - Dividend Option-Fortnightly dividend frequency

- - - - - - -

# Direct Plan - Dividend Option-Monthly dividend frequency

- - - - - - -


51











March 31, 2017

March 31, 2016

March 31, 2015

March 31, 2017

March 31, 2016

March 31, 2015 March 31, 2017

# Direct Plan - Dividend Option-Quarterly dividend frequency

10.8237

# Direct Plan - Dividend Option-Annual dividend frequency

- - - - - - 10.8237

Lowest PriceGrowth Option 16.4850 15.1377 9.9418 10.5305 9.6786 9.9801 9.4153Growth Option Pre Split - - - - - - -Growth Option Post Split - - - - - - -Dividend Option 16.4850 15.1377 9.9418 10.5305 9.6786 9.9801 -Dividend Option-Daily dividend frequency - - - - - - -Dividend Option-Weekly dividend frequency - - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - - -Dividend Option-Monthly dividend frequency - - - - - - -Dividend Option-Quarterly dividend frequency - - - - 9.4153Dividend Option-Annual dividend frequency - - - - - - 9.4153




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- - - - - - 9.4460


- - - - - - 9.4460

Sale PriceHighest Price

Growth Option 22.7704 18.7697 17.3876 14.7884 11.8268 10.9593 10.7508Growth Option Pre Split - - - - - - -Growth Option Post Split - - - - - - -Dividend Option 22.7704 18.7697 17.3876 14.6324 11.8268 10.9593 -Dividend Option-Daily dividend frequency - - - - - - -Dividend Option-Weekly dividend frequency - - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - - -Dividend Option-Monthly dividend frequency - - - - - - -Dividend Option-Quarterly dividend frequency - - - - 10.7508Dividend Option-Annual dividend frequency - - - - - - 10.7508




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- - - - - - 10.8237


- - - - - - 10.8237

Lowest PriceGrowth Option 16.4850 15.1377 9.9418 10.5305 9.6786 9.9801 9.4153Growth Option Pre Split - - - - - - -Growth Option Post Split - - - - - - -Dividend Option 16.4850 15.1377 9.9418 10.5305 9.6786 9.9801 -Dividend Option-Daily dividend frequency - - - - - - -


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March 31, 2017

March 31, 2016

March 31, 2015

March 31, 2017

March 31, 2016

March 31, 2015 March 31, 2017

Dividend Option-Weekly dividend frequency - - - - - - -Dividend Option-Fortnightly dividend frequency - - - - - - -Dividend Option-Monthly dividend frequency - - - - - - -Dividend Option-Quarterly dividend frequency - - - - 9.4153Dividend Option-Annual dividend frequency - - - - - - 9.4153




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- - - - - - 9.4460


- - - - - - 9.4460

f(ii). Traded Pricef(iii). Price-earning Ratio:g. Ratio of expenses to average daily net assets by

percentage0.00% 2.06% 1.45% 0.00% 3.17% 2.78% 0.00%

h. Ratio of gross income to average daily net assets by percentage (excluding transfer to revenue account from past years’ reserve but including unrealised appreciation / depreciation on investments).

34.66% -2.56% 49.82% 37.60% 0.61% 33.91% 20.82%

# Direct Plan has been Launched from January 01, 2013.* The NAV of MOSt Shares M50 was aligned to approximately 1/100th of the value of NIFTY 50 by splitting the then existing units in the proportion of approximately 1:1.41 as on the record date ie on October 17, 2014.


Address for return deliveries for:

(Unit Motilal Oswal Mutual Fund)Karvy Selenium Tower B, Plot number 31 & 32,Financial District, Nanakramguda, Serilingampally Mandal,Hyderabad - 500032, India.

Book - Post

Motilal Oswal Asset Management Company LimitedRegistered & Corporate Office: 10th Floor, Motilal Oswal Tower,

Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai - 400025

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